Grail (NASDAQ:GRAL) Reaches New 12-Month High – What’s Next?

Grail, Inc. (NASDAQ:GRAL)’s stock price reached a new 52-week high on Thursday . The company traded as high as $39.48 and last traded at $39.26, with a volume of 1777607 shares changing hands. The stock had previously closed at $33.15.

Wall Street Analyst Weigh In

GRAL has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on shares of Grail in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 target price for the company. Guggenheim began coverage on Grail in a report on Thursday, October 17th. They issued a “neutral” rating on the stock. Finally, Wolfe Research started coverage on Grail in a report on Friday, November 15th. They issued a “peer perform” rating on the stock.

Grail Stock Up 18.4 %

The firm has a fifty day moving average of $22.29 and a two-hundred day moving average of $17.43.

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

Insider Buying and Selling

In other news, CFO Aaron Freidin sold 30,452 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 268,277 shares of the company’s stock, valued at approximately $3,761,243.54. The trade was a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Investors Weigh In On Grail

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC purchased a new stake in shares of Grail in the fourth quarter worth $559,000. Wesbanco Bank Inc. bought a new position in Grail in the fourth quarter valued at about $523,000. Slow Capital Inc. purchased a new stake in Grail in the fourth quarter worth about $2,379,000. Perigon Wealth Management LLC purchased a new stake in Grail in the fourth quarter worth about $260,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Grail in the fourth quarter worth about $507,000.

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.