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

Grail, Inc. (NASDAQ:GRAL) shares shot up 6.1% during trading on Wednesday . The company traded as high as $26.10 and last traded at $26.63. 322,459 shares traded hands during trading, a decline of 73% from the average session volume of 1,213,854 shares. The stock had previously closed at $25.10.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upped their price target on Grail from $16.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 18th.

Grail Price Performance

The firm’s 50 day moving average price is $34.32 and its two-hundred day moving average price is $22.64.

Grail (NASDAQ:GRAL) last issued its earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. As a group, equities research analysts expect that Grail, Inc. will post -15.15 EPS for the current fiscal year.

Insider Transactions at Grail

In related news, CEO Robert P. Ragusa sold 7,625 shares of the company’s stock in a transaction 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 approximately $25,862,541.02. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aaron Freidin sold 1,816 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $31.20, for a total value of $56,659.20. Following the sale, the chief financial officer now owns 335,170 shares in the company, valued at $10,457,304. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,550 shares of company stock valued at $360,436.

Institutional Trading of Grail

Several institutional investors have recently added to or reduced their stakes in GRAL. Douglas Lane & Associates LLC purchased a new position in Grail in the 4th quarter worth approximately $3,034,000. A. D. Beadell Investment Counsel Inc. purchased a new position in shares of Grail during the 4th quarter worth approximately $430,000. FNY Investment Advisers LLC bought a new position in shares of Grail in the 4th quarter worth approximately $26,000. 180 Wealth Advisors LLC purchased a new stake in Grail in the fourth quarter worth $1,681,000. Finally, B & T Capital Management DBA Alpha Capital Management bought a new position in Grail in the fourth quarter worth $387,000.

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.