Grail (NASDAQ:GRAL) Shares Up 6.1% – Here’s What Happened

Grail, Inc. (NASDAQ:GRAL)’s stock price shot up 6.1% during mid-day trading on Wednesday . The stock traded as high as $30.46 and last traded at $30.01. 62,489 shares changed hands during trading, a decline of 94% from the average session volume of 1,045,966 shares. The stock had previously closed at $28.28.

Wall Street Analysts Forecast Growth

GRAL has been the subject of several research reports. Guggenheim started coverage on Grail in a report on Thursday, October 17th. They issued a “neutral” rating for the company. Wolfe Research initiated coverage on Grail in a research note on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Morgan Stanley initiated coverage on shares of Grail in a research report on Wednesday, November 27th. They issued an “equal weight” rating and a $16.00 price target on the stock.

Grail Trading Down 3.0 %

The firm has a 50-day moving average of $21.43 and a 200 day moving average of $17.04.

Grail (NASDAQ:GRAL) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($3.94) earnings per share (EPS) for the quarter. The business had revenue of $28.65 million during the quarter. Analysts predict 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 firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $14.02, for a total transaction of $426,937.04. Following the completion of the transaction, the chief financial officer now owns 268,277 shares of the company’s stock, valued at $3,761,243.54. This trade represents a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Hedge Funds Weigh In On Grail

A number of hedge funds have recently modified their holdings of GRAL. Bank of New York Mellon Corp acquired a new position in shares of Grail in the fourth quarter worth $6,262,000. TCW Group Inc. acquired a new position in Grail in the fourth quarter worth approximately $5,095,000. abrdn plc bought a new position in Grail during the fourth quarter valued at approximately $3,768,000. Douglas Lane & Associates LLC acquired a new stake in Grail in the fourth quarter valued at approximately $3,034,000. Finally, Slow Capital Inc. bought a new stake in Grail in the fourth quarter worth approximately $2,379,000.

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.