Grail (NASDAQ:GRAL) Stock Price Up 5.4% – Here’s Why

Grail, Inc. (NASDAQ:GRAL)’s stock price rose 5.4% during mid-day trading on Wednesday . The stock traded as high as $35.10 and last traded at $34.94. Approximately 238,647 shares changed hands during trading, a decline of 77% from the average daily volume of 1,049,903 shares. The stock had previously closed at $33.15.

Analyst Upgrades and Downgrades

GRAL has been the topic of a number of research reports. Morgan Stanley began 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 on the stock. Guggenheim began coverage on shares of Grail in a research report on Thursday, October 17th. They issued a “neutral” rating on the stock. Finally, Wolfe Research initiated coverage on Grail in a research report on Friday, November 15th. They set a “peer perform” rating for the company.

Grail Trading Up 17.6 %

The business’s fifty day moving average price is $22.29 and its 200 day moving average price is $17.43.

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

Insider Activity 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 stock was sold at an average price of $14.02, for a total value of $426,937.04. Following the transaction, the chief financial officer now directly owns 268,277 shares in the company, valued at $3,761,243.54. This trade represents a 10.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional Investors Weigh In On Grail

Institutional investors have recently bought and sold shares of the business. Crcm LP acquired a new position in shares of Grail during the 4th quarter valued at $65,061,000. Primecap Management Co. CA acquired a new position in shares of Grail during the fourth quarter worth about $37,118,000. Vanguard Group Inc. purchased a new stake in shares of Grail in the fourth quarter worth about $25,902,000. Bank of New York Mellon Corp acquired a new stake in shares of Grail in the fourth quarter valued at about $6,262,000. Finally, TCW Group Inc. purchased a new stake in shares of Grail during the 4th quarter valued at about $5,095,000.

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.