Grail (NASDAQ:GRAL) Now Covered by Analysts at Canaccord Genuity Group

Research analysts at Canaccord Genuity Group started coverage on shares of Grail (NASDAQ:GRAL) in a research note issued on Monday,Benzinga reports. The brokerage set a “buy” rating and a $32.00 price target on the stock. Canaccord Genuity Group’s price target points to a potential upside of 18.52% from the company’s current price.

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

Grail Stock Up 1.9 %

Shares of GRAL opened at $27.00 on Monday. Grail has a 52-week low of $12.33 and a 52-week high of $63.99. The firm’s fifty day moving average is $32.83 and its two-hundred day moving average is $23.72.

Grail (NASDAQ:GRAL) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share for the quarter, topping analysts’ consensus estimates 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. As a group, analysts forecast that Grail will post -15.15 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Robert P. Ragusa sold 7,625 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $31.21, for a total transaction 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. This represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Joshua J. Ofman sold 2,109 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $31.20, for a total transaction of $65,800.80. Following the completion of the sale, the president now owns 559,673 shares in the company, valued at approximately $17,461,797.60. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,550 shares of company stock valued at $360,436 over the last ninety days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GRAL. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Grail in the 1st quarter valued at approximately $719,000. Caldwell Sutter Capital Inc. purchased a new stake in Grail in the first quarter valued at approximately $28,000. Pallas Capital Advisors LLC purchased a new stake in Grail in the first quarter valued at approximately $257,000. Wesbanco Bank Inc. boosted its position in shares of Grail by 9.2% during the first quarter. Wesbanco Bank Inc. now owns 32,000 shares of the company’s stock worth $817,000 after buying an additional 2,700 shares during the period. Finally, Merit Financial Group LLC purchased a new position in shares of Grail during the first quarter worth $206,000.

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.