Grail (NASDAQ:GRAL) Stock Price Up 8.2% – Here’s Why

Grail, Inc. (NASDAQ:GRAL) rose 8.2% on Thursday . The company traded as high as $28.92 and last traded at $28.84. Approximately 248,290 shares changed hands during trading, a decline of 75% from the average daily volume of 993,628 shares. The stock had previously closed at $26.67.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GRAL. Guggenheim began coverage on shares of Grail in a research report on Thursday, October 17th. They issued a “neutral” rating for the company. Wolfe Research assumed coverage on Grail in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Morgan Stanley initiated coverage on Grail in a report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price objective on the stock.

Grail Stock Performance

The stock has a fifty day simple moving average of $20.06 and a 200-day simple moving average of $16.58.

Grail (NASDAQ:GRAL) last released its earnings results on Tuesday, November 12th. The company reported ($3.94) EPS for the quarter. The business had revenue of $28.65 million during the quarter. On average, equities analysts forecast that Grail, Inc. will post -65.16 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Aaron Freidin sold 30,452 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $14.02, for a total transaction of $426,937.04. Following the sale, the chief financial officer now owns 268,277 shares in the company, valued at $3,761,243.54. This represents a 10.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new position in shares of Grail in the fourth quarter valued at $26,000. New York State Common Retirement Fund acquired a new position in Grail in the 4th quarter valued at about $59,000. Wilmington Savings Fund Society FSB bought a new position in Grail in the 4th quarter valued at about $64,000. Manchester Capital Management LLC acquired a new stake in Grail during the fourth quarter worth approximately $123,000. Finally, China Universal Asset Management Co. Ltd. bought a new stake in shares of Grail during the fourth quarter worth approximately $127,000.

Grail Company Profile

GRAIL, Inc is a healthcare company. It engages in the development of a technology for early detection of cancer. The company was founded by Jeffrey T. Huber, William H. Rastetter, and Mostafa Ronaghi on September 11, 2015 and is headquartered in Menlo Park, CA.