GRAIL (NASDAQ:GRAL) Trading 12.3% Higher - Time to Buy?

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report)'s share price traded up 12.3% during trading on Wednesday . The stock traded as high as $45.48 and last traded at $47.24. 600,076 shares changed hands during trading, a decline of 52% from the average session volume of 1,258,151 shares. The stock had previously closed at $42.05.

Analysts Set New Price Targets

GRAL has been the subject of several recent analyst reports. Canaccord Genuity Group lifted their price target on GRAIL from $32.00 to $43.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Morgan Stanley lifted their price target on GRAIL from $16.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 18th.

GRAIL Trading Up 13.6%

The firm has a fifty day moving average of $35.82 and a 200 day moving average of $30.44. The company has a market capitalization of $1.72 billion and a P/E ratio of -0.79.

GRAIL (NASDAQ:GRAL - Get Free Report) last released its quarterly earnings data on Tuesday, May 13th. The company reported ($3.10) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $35.80 million. Sell-side analysts anticipate that GRAIL, Inc. will post -15.15 EPS for the current fiscal year.

Insider Buying and Selling at GRAIL

In related news, President Joshua J. Ofman sold 48,213 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $33.93, for a total transaction of $1,635,867.09. Following the completion of the transaction, the president now directly owns 511,460 shares in the company, valued at approximately $17,353,837.80. The trade was a 8.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert P. Ragusa sold 94,035 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $33.93, for a total value of $3,190,607.55. Following the transaction, the chief executive officer now owns 734,627 shares of the company's stock, valued at approximately $24,925,894.11. This trade represents a 11.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 183,398 shares of company stock worth $6,222,694 in the last three months.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp purchased a new position in GRAIL in the 4th quarter worth approximately $475,000. Rhumbline Advisers purchased a new position in GRAIL in the 4th quarter worth approximately $456,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in GRAIL in the 4th quarter worth approximately $244,000. New York State Common Retirement Fund purchased a new position in GRAIL in the 4th quarter worth approximately $59,000. Finally, Ieq Capital LLC purchased a new position in GRAIL in the 4th quarter worth approximately $355,000.

About GRAIL

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.

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