Grail (NASDAQ:GRAL) Stock Price Up 6.1% – Should You Buy?

Grail, Inc. (NASDAQ:GRAL) was up 6.1% during mid-day trading on Wednesday . The stock traded as high as $30.46 and last traded at $30.01. Approximately 62,489 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 1,045,966 shares. The stock had previously closed at $28.28.

Analyst Upgrades and Downgrades

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

Grail Price Performance

The company’s fifty day simple moving average is $21.43 and its 200 day simple moving average is $17.04.

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

Insider Buying and Selling

In other news, CFO Aaron Freidin sold 30,452 shares of the company’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 value of $426,937.04. Following the completion of the transaction, the chief financial officer now directly owns 268,277 shares of the company’s stock, valued at $3,761,243.54. This represents a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Institutional Trading of Grail

Several institutional investors and hedge funds have recently bought and sold shares of the company. Douglas Lane & Associates LLC purchased a new position in shares of Grail during the 4th quarter worth approximately $3,034,000. A. D. Beadell Investment Counsel Inc. bought a new stake in Grail in the 4th quarter valued at $430,000. FNY Investment Advisers LLC bought a new position in Grail during the fourth quarter valued at $26,000. 180 Wealth Advisors LLC purchased a new position in shares of Grail during the 4th quarter worth about $1,681,000. Finally, B & T Capital Management DBA Alpha Capital Management bought a new position in Grail in the 4th quarter worth about $387,000.

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.