Grail (NASDAQ:GRAL) Stock Price Up 9.8% – Here’s Why

Grail, Inc. (NASDAQ:GRAL) shot up 9.8% during trading on Monday . The company traded as high as $43.88 and last traded at $44.71. 836,409 shares traded hands during trading, a decline of 43% from the average session volume of 1,480,114 shares. The stock had previously closed at $40.73.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on GRAL shares. Morgan Stanley assumed coverage on Grail in a research note on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price objective on the stock. Wolfe Research started coverage on shares of Grail in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock.

Grail Price Performance

The stock’s fifty day simple moving average is $26.69 and its two-hundred day simple moving average is $19.25.

Grail (NASDAQ:GRAL) last released its earnings results on Thursday, February 20th. The company reported ($1.86) 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 analyst estimates of $35.33 million. Equities research analysts anticipate that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Grail

Several hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new position in shares of Grail in the fourth quarter worth approximately $26,000. State of Tennessee Department of Treasury purchased a new position in Grail during the 4th quarter worth approximately $28,000. Lindbrook Capital LLC acquired a new stake in Grail during the 4th quarter valued at $28,000. Sterling Capital Management LLC purchased a new stake in shares of Grail in the fourth quarter valued at $29,000. Finally, Wellington Shields Capital Management LLC acquired a new stake in shares of Grail in the fourth quarter worth $33,000.

Grail Company Profile

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.