Grail (NASDAQ:GRAL) Stock Price Up 8.2% – Here’s What Happened

Shares of Grail, Inc. (NASDAQ:GRAL) shot up 8.2% during mid-day trading on Thursday . The stock traded as high as $28.92 and last traded at $28.84. 248,290 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 993,628 shares. The stock had previously closed at $26.67.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley assumed coverage on Grail in a report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price target for the company. Wolfe Research assumed coverage on Grail in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Guggenheim began coverage on Grail in a report on Thursday, October 17th. They set a “neutral” rating on the stock.

Grail Trading Up 18.0 %

The firm’s fifty day moving average price is $19.76 and its two-hundred day moving average price is $16.48.

Grail (NASDAQ:GRAL) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($3.94) earnings per share for the quarter. The company had revenue of $28.65 million during the quarter. Sell-side analysts forecast that Grail, Inc. will post -65.16 EPS for the current fiscal year.

Insider Buying and Selling at Grail

In related news, CFO Aaron Freidin sold 30,452 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 268,277 shares in the company, valued at approximately $3,761,243.54. This represents a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. abrdn plc bought a new stake in Grail during the fourth quarter worth $3,768,000. Douglas Lane & Associates LLC bought a new stake in shares of Grail during the 4th quarter worth $3,034,000. Slow Capital Inc. purchased a new position in shares of Grail in the 4th quarter worth about $2,379,000. 180 Wealth Advisors LLC bought a new position in Grail during the fourth quarter valued at about $1,681,000. Finally, Moloney Securities Asset Management LLC purchased a new stake in Grail during the fourth quarter worth about $559,000.

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.