Grail (NASDAQ:GRAL) Reaches New 1-Year High – Still a Buy?

Grail, Inc. (NASDAQ:GRAL) shares hit a new 52-week high on Thursday . The stock traded as high as $39.48 and last traded at $39.26, with a volume of 1777607 shares trading hands. The stock had previously closed at $33.15.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Morgan Stanley started coverage on shares of Grail in a report on Wednesday, November 27th. They issued an “equal weight” rating and a $16.00 price target on the stock. Wolfe Research initiated coverage on Grail in a research note on Friday, November 15th. They set a “peer perform” rating on the stock.

Grail Price Performance

The business’s 50 day moving average is $23.27 and its 200 day moving average is $17.82.

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

Insider Activity at Grail

In related news, CFO Aaron Freidin sold 30,452 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $3,761,243.54. This represents a 10.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Grail

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC purchased a new stake in Grail in the fourth quarter valued at $26,000. State of Tennessee Department of Treasury purchased a new stake in shares of Grail in the fourth quarter worth about $28,000. Lindbrook Capital LLC acquired a new stake in Grail during the fourth quarter worth about $28,000. Sterling Capital Management LLC purchased a new position in Grail during the fourth quarter valued at approximately $29,000. Finally, Wellington Shields Capital Management LLC acquired a new position in Grail in the fourth quarter valued at approximately $33,000.

About Grail

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.