Grail (NASDAQ:GRAL) Stock Price Up 6.1% – Still a Buy?

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

Analyst Ratings Changes

Separately, Morgan Stanley increased their price objective on shares of Grail from $16.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 18th.

Grail Stock Performance

The company’s 50-day moving average price is $34.32 and its 200 day moving average price is $22.64.

Grail (NASDAQ:GRAL) last announced its earnings results on Thursday, February 20th. The company reported ($1.86) 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 analysts’ expectations of $35.33 million. As a group, sell-side analysts expect that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Insider Transactions at Grail

In related news, CEO Robert P. Ragusa sold 7,625 shares of the firm’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 of the company’s stock, valued at approximately $25,862,541.02. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aaron Freidin sold 1,816 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $31.20, for a total transaction of $56,659.20. Following the sale, the chief financial officer now directly owns 335,170 shares in the company, valued at approximately $10,457,304. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,550 shares of company stock valued at $360,436 over the last three months.

Institutional Trading of Grail

Several institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of Grail in the fourth quarter worth approximately $408,000. California State Teachers Retirement System purchased a new stake in Grail in the fourth quarter worth $464,000. Alpha Wealth Funds LLC bought a new stake in shares of Grail during the fourth quarter worth $2,562,000. Ameriflex Group Inc. purchased a new stake in shares of Grail during the fourth quarter valued at $95,000. Finally, PVG Asset Management Corp bought a new position in shares of Grail in the fourth quarter worth about $398,000.

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.