Grail (NASDAQ:GRAL) Trading 6.1% Higher – Should You Buy?

Grail, Inc. (NASDAQ:GRAL)’s share price rose 6.1% during trading on Wednesday . The stock traded as high as $30.46 and last traded at $30.01. Approximately 62,489 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 1,045,966 shares. The stock had previously closed at $28.28.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GRAL shares. Wolfe Research started coverage on Grail in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Morgan Stanley started coverage on Grail in a report on Wednesday, November 27th. They issued an “equal weight” rating and a $16.00 price target for the company. Finally, Guggenheim initiated coverage on Grail in a report on Thursday, October 17th. They set a “neutral” rating on the stock.

Grail Stock Up 12.5 %

The stock has a fifty day moving average of $20.78 and a 200-day moving average of $16.81.

Grail (NASDAQ:GRAL) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($3.94) earnings per share (EPS) for the quarter. The company had revenue of $28.65 million during the quarter. Analysts anticipate that Grail, Inc. will post -65.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Grail news, CFO Aaron Freidin sold 30,452 shares of the business’s stock in a transaction on Monday, November 18th. The shares were 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 of the company’s stock, valued at approximately $3,761,243.54. The trade was a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Trading of Grail

Institutional investors have recently modified their holdings of the business. Douglas Lane & Associates LLC purchased a new stake in shares of Grail in the 4th quarter worth about $3,034,000. A. D. Beadell Investment Counsel Inc. bought a new position in shares of Grail in the fourth quarter worth approximately $430,000. FNY Investment Advisers LLC purchased a new position in shares of Grail during the fourth quarter valued at approximately $26,000. 180 Wealth Advisors LLC purchased a new position in shares of Grail during the fourth quarter valued at approximately $1,681,000. Finally, B & T Capital Management DBA Alpha Capital Management purchased a new stake in Grail during the fourth quarter valued at approximately $387,000.

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.