GRAIL (NASDAQ:GRAL) Stock Price Up 9% - Here's What Happened

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report)'s stock price rose 9% during mid-day trading on Tuesday . The company traded as high as $37.09 and last traded at $37.45. Approximately 820,195 shares changed hands during trading, a decline of 29% from the average daily volume of 1,157,539 shares. The stock had previously closed at $34.35.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group raised their target price on shares of GRAIL from $32.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th.

GRAIL Stock Up 1.4%

The firm has a market capitalization of $1.45 billion and a P/E ratio of -0.66. The stock has a fifty day simple moving average of $41.84 and a 200 day simple moving average of $35.00.

GRAIL (NASDAQ:GRAL - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($3.10) EPS for the quarter, topping analysts' consensus estimates of ($4.03) by $0.93. GRAIL had a negative return on equity of 17.99% and a negative net margin of 1,464.53%. The company had revenue of $31.84 million for the quarter, compared to analysts' expectations of $35.80 million. Research analysts anticipate that GRAIL, Inc. will post -15.15 earnings per share for the current fiscal year.

Insider Activity at GRAIL

In related news, major shareholder Chun R. Ding sold 339,800 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $49.53, for a total value of $16,830,294.00. Following the sale, the insider directly owned 3,305,055 shares in the company, valued at approximately $163,699,374.15. The trade was a 9.32% 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. Also, CFO Aaron Freidin sold 8,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $38.93, for a total value of $311,440.00. Following the transaction, the chief financial officer directly owned 286,020 shares of the company's stock, valued at approximately $11,134,758.60. The trade was a 2.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 540,890 shares of company stock worth $23,868,412 in the last quarter. 1.85% of the stock is owned by company insiders.

Institutional Trading of GRAIL

A number of large investors have recently added to or reduced their stakes in GRAL. State of Tennessee Department of Treasury bought a new stake in GRAIL in the fourth quarter worth $28,000. Caldwell Sutter Capital Inc. bought a new stake in shares of GRAIL in the 1st quarter worth about $28,000. Sterling Capital Management LLC purchased a new stake in shares of GRAIL during the 4th quarter valued at about $29,000. KBC Group NV raised its position in shares of GRAIL by 187.7% during the 1st quarter. KBC Group NV now owns 1,430 shares of the company's stock valued at $37,000 after buying an additional 933 shares in the last quarter. Finally, S.A. Mason LLC lifted its holdings in shares of GRAIL by 50.1% in the 1st quarter. S.A. Mason LLC now owns 1,499 shares of the company's stock valued at $38,000 after acquiring an additional 500 shares during the last quarter.

GRAIL Company Profile

GRAIL, Inc operates as a commercial-stage healthcare company, which engages in the development of a technology for early detection of cancer. It utilizes machine learning, software, and automation to detect and identify multiple deadly cancer types in earlier stages. The company was founded by Jeffrey T.