GRAIL (NASDAQ:GRAL) Trading Up 5.9% - Here's Why

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report)'s stock price was up 5.9% during mid-day trading on Wednesday . The stock traded as high as $46.00 and last traded at $46.53. Approximately 172,515 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 1,261,200 shares. The stock had previously closed at $43.95.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GRAL shares. Morgan Stanley raised their target price on GRAIL from $16.00 to $20.00 and gave the company an "equal weight" rating in a report on Tuesday, March 18th. Canaccord Genuity Group raised their price objective 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 Trading Up 2.8%

The firm has a fifty day simple moving average of $37.98 and a 200 day simple moving average of $31.32. The stock has a market cap of $1.63 billion and a price-to-earnings ratio of -0.74.

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

Insider Buying and Selling at GRAIL

In other GRAIL news, President Joshua J. Ofman sold 48,213 shares of the company's stock in a transaction 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 transaction, the president now owns 511,460 shares of the company's stock, valued at approximately $17,353,837.80. This represents a 8.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aaron Freidin sold 41,150 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $33.93, for a total value of $1,396,219.50. Following the completion of the transaction, the chief financial officer now owns 294,020 shares in the company, valued at $9,976,098.60. The trade was a 12.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 183,398 shares of company stock valued at $6,222,694 in the last 90 days.

Institutional Investors Weigh In On GRAIL

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC bought a new position in GRAIL in the fourth quarter valued at about $28,000. State of Tennessee Department of Treasury bought a new position in shares of GRAIL in the 4th quarter valued at about $28,000. Caldwell Sutter Capital Inc. bought a new position in shares of GRAIL in the 1st quarter valued at about $28,000. Sterling Capital Management LLC acquired a new stake in shares of GRAIL during the 4th quarter worth approximately $29,000. Finally, Wellington Shields Capital Management LLC acquired a new stake in shares of GRAIL during the 4th quarter worth approximately $33,000.

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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