Grail (NASDAQ:GRAL) Price Target Raised to $20.00 at Morgan Stanley

Grail (NASDAQ:GRAL) had its price target upped by analysts at Morgan Stanley from $16.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would suggest a potential downside of 26.09% from the stock’s previous close.

Grail Stock Performance

NASDAQ GRAL traded down $2.07 during trading hours on Tuesday, hitting $27.06. 367,313 shares of the company’s stock traded hands, compared to its average volume of 1,220,990. The business’s fifty day moving average price is $32.00 and its two-hundred day moving average price is $21.49. Grail has a 52 week low of $12.33 and a 52 week high of $63.99.

Grail (NASDAQ:GRAL) last announced its earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.41) by $2.55. The business had revenue of $38.25 million for the quarter, compared to the consensus estimate of $35.33 million. On average, research analysts anticipate that Grail will post -15.15 earnings per share for the current year.

Insiders Place Their Bets

In other Grail news, CEO Robert P. Ragusa sold 7,625 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.21, for a total value of $237,976.25. Following the completion of the transaction, the chief executive officer now directly owns 828,662 shares in the company, valued at $25,862,541.02. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Joshua J. Ofman sold 2,109 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.20, for a total transaction of $65,800.80. Following the completion of the transaction, the president now owns 559,673 shares of the company’s stock, valued at approximately $17,461,797.60. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,550 shares of company stock worth $360,436 over the last three months.

Hedge Funds Weigh In On Grail

A number of hedge funds have recently modified their holdings of GRAL. FNY Investment Advisers LLC bought a new position in shares of Grail during the fourth quarter worth $26,000. Lindbrook Capital LLC purchased a new stake in Grail during the fourth quarter valued at $28,000. State of Tennessee Department of Treasury purchased a new stake in Grail during the fourth quarter valued at $28,000. Sterling Capital Management LLC purchased a new stake in Grail during the fourth quarter valued at $29,000. Finally, Wellington Shields Capital Management LLC purchased a new stake in shares of Grail in the fourth quarter valued at $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.