Grail (NASDAQ:GRAL) Shares Up 4.5% – Here’s What Happened

Grail, Inc. (NASDAQ:GRAL)’s share price rose 4.5% on Tuesday . The stock traded as high as $39.78 and last traded at $39.96. Approximately 271,453 shares changed hands during trading, a decline of 78% from the average daily volume of 1,255,014 shares. The stock had previously closed at $38.23.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GRAL. Morgan Stanley lifted their target price on shares of Grail from $16.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 18th. Canaccord Genuity Group boosted their price objective on Grail from $32.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th.

Grail Price Performance

The company has a market capitalization of $1.45 billion and a P/E ratio of -0.64. The stock’s 50 day simple moving average is $30.16 and its two-hundred day simple moving average is $26.92.

Grail (NASDAQ:GRAL) last released its earnings results on Tuesday, May 13th. The company reported ($3.10) EPS for the quarter, beating the consensus estimate of ($4.03) by $0.93. The firm had revenue of $31.84 million during the quarter, compared to analyst estimates of $35.80 million. As a group, equities research analysts expect that Grail, Inc. will post -15.15 earnings per share for the current year.

Insider Buying and Selling at Grail

In related news, CFO Aaron Freidin sold 41,150 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $33.93, for a total transaction of $1,396,219.50. Following the completion of the sale, the chief financial officer now directly owns 294,020 shares of the company’s stock, valued at approximately $9,976,098.60. This represents a 12.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert P. Ragusa sold 94,035 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $33.93, for a total transaction of $3,190,607.55. Following the completion of the sale, the chief executive officer now directly owns 734,627 shares in the company, valued at $24,925,894.11. This represents a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 194,948 shares of company stock worth $6,583,130. Company insiders own 1.85% of the company’s stock.

Institutional Trading of Grail

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Crcm LP acquired a new position in shares of Grail in the fourth quarter valued at $65,061,000. Sessa Capital IM L.P. bought a new position in Grail during the 4th quarter worth $53,550,000. Primecap Management Co. CA bought a new stake in shares of Grail in the fourth quarter valued at about $37,118,000. Baker BROS. Advisors LP acquired a new position in shares of Grail in the fourth quarter valued at about $29,098,000. Finally, Vanguard Group Inc. bought a new position in Grail during the fourth quarter worth about $25,902,000.

Grail Company Profile

GRAIL, Inc operates as a commercial-stage healthcare company, which engages in the development of a technology for early detection of cancer. It utilizes machine learning, software, and automation to detect and identify multiple deadly cancer types in earlier stages. The company was founded by Jeffrey T.