Grail (NASDAQ:GRAL) Trading Up 8.1% – Here’s What Happened

Shares of Grail, Inc. (NASDAQ:GRAL) rose 8.1% during mid-day trading on Monday . The company traded as high as $18.99 and last traded at $18.92. Approximately 248,407 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 1,057,470 shares. The stock had previously closed at $17.50.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Guggenheim assumed coverage on shares of Grail in a research report on Thursday, October 17th. They set a “neutral” rating for the company. Wolfe Research initiated coverage on Grail in a research report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Morgan Stanley assumed coverage on shares of Grail in a research note on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price objective on the stock.

Grail Price Performance

The business has a fifty day moving average price of $14.60.

Insiders Place Their Bets

In other news, major shareholder Chun R. Ding acquired 7,629 shares of Grail stock in a transaction dated Tuesday, October 1st. The stock was bought at an average cost of $13.52 per share, with a total value of $103,144.08. Following the completion of the transaction, the insider now directly owns 3,503,655 shares of the company’s stock, valued at approximately $47,369,415.60. This represents a 0.22 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aaron Freidin sold 30,452 shares of Grail 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 completion of the sale, the chief financial officer now directly owns 268,277 shares in the company, valued at approximately $3,761,243.54. This represents a 10.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 58,829 shares of company stock worth $757,298.

About Grail

GRAIL, Inc, a biotechnology company, focuses on developing technologies for early cancer detection. The company develops Galleri, a screening test for asymptomatic individuals over 50 years of age; and DAC, a diagnostic aid for cancer tests to accelerate diagnostic resolution for patients for whom there is a clinical suspicion of cancer.