Grail (NASDAQ:GRAL) Trading Up 9.2% – Here’s What Happened

Shares of Grail, Inc. (NASDAQ:GRAL) were up 9.2% during mid-day trading on Tuesday . The company traded as high as $18.65 and last traded at $19.02. Approximately 79,081 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 661,364 shares. The stock had previously closed at $17.42.

Analysts Set New Price Targets

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

Grail Trading Up 14.7 %

The company has a 50-day moving average price of $18.57.

Grail (NASDAQ:GRAL) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($3.94) earnings per share for the quarter. The business had revenue of $28.65 million for the quarter. Equities research analysts expect that Grail, Inc. will post -65.16 earnings per share for the current year.

Insider Buying and Selling at Grail

In other news, CFO Aaron Freidin sold 30,452 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $14.02, for a total value of $426,937.04. Following the transaction, the chief financial officer now owns 268,277 shares of the company’s stock, valued at approximately $3,761,243.54. This trade represents a 10.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GRAL. FNY Investment Advisers LLC bought a new position in Grail during the 4th quarter worth approximately $26,000. Perigon Wealth Management LLC acquired a new stake in Grail during the 4th quarter worth approximately $260,000. B & T Capital Management DBA Alpha Capital Management acquired a new stake in Grail during the 4th quarter worth approximately $387,000. A. D. Beadell Investment Counsel Inc. acquired a new stake in Grail during the 4th quarter worth approximately $430,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Grail during the 4th quarter worth approximately $507,000.

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.