Grail (NASDAQ:GRAL) Trading 9.8% Higher – Here’s Why

Grail, Inc. (NASDAQ:GRAL)’s share price shot up 9.8% during mid-day trading on Monday . The stock traded as high as $43.88 and last traded at $44.71. 836,409 shares changed hands during mid-day 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 Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Morgan Stanley initiated coverage on Grail in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 target price on the stock. Wolfe Research initiated coverage on shares of Grail in a research note on Friday, November 15th. They issued a “peer perform” rating for the company.

Grail Price Performance

The stock has a 50-day simple moving average of $26.69 and a 200 day simple moving average of $19.25.

Grail (NASDAQ:GRAL) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.41) by $2.55. The company had revenue of $38.25 million during the quarter, compared to the consensus estimate of $35.33 million. On average, equities research analysts predict that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRAL. Crcm LP bought a new position in shares of Grail during the 4th quarter valued at about $65,061,000. Sessa Capital IM L.P. bought a new position in Grail in the fourth quarter valued at approximately $53,550,000. Primecap Management Co. CA acquired a new position in shares of Grail in the fourth quarter valued at approximately $37,118,000. Baker BROS. Advisors LP bought a new stake in shares of Grail during the fourth quarter worth $29,098,000. Finally, Vanguard Group Inc. bought a new stake in shares of Grail during the fourth quarter worth $25,902,000.

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.