Grail (NASDAQ:GRAL) Trading Up 3.7% – Time to Buy?

Grail, Inc. (NASDAQ:GRAL)’s share price rose 3.7% on Friday . The company traded as high as $28.59 and last traded at $28.85. Approximately 92,793 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,216,009 shares. The stock had previously closed at $27.81.

Analysts Set New Price Targets

Separately, Morgan Stanley raised their target price on shares of Grail from $16.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday.

Grail Price Performance

The business’s 50-day simple moving average is $32.61 and its two-hundred day simple moving average is $21.67.

Grail (NASDAQ:GRAL) last issued its earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.41) by $2.55. The company had revenue of $38.25 million during the quarter, compared to analyst estimates of $35.33 million. Equities research analysts expect that Grail, Inc. will post -15.15 EPS for the current fiscal year.

Insider Transactions at Grail

In other news, CFO Aaron Freidin sold 1,816 shares of Grail stock in a transaction on Friday, March 7th. The shares were sold at an average price of $31.20, for a total transaction of $56,659.20. Following the transaction, the chief financial officer now owns 335,170 shares in the company, valued at approximately $10,457,304. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Joshua J. Ofman sold 2,109 shares of Grail stock in a transaction on Friday, March 7th. The stock was sold at an average price of $31.20, for a total transaction of $65,800.80. Following the transaction, the president now owns 559,673 shares in the company, valued at approximately $17,461,797.60. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,550 shares of company stock worth $360,436.

Hedge Funds Weigh In On Grail

Hedge funds have recently modified their holdings of the business. FNY Investment Advisers LLC bought a new position in Grail during the fourth quarter worth $26,000. State of Tennessee Department of Treasury bought a new position in Grail during the fourth quarter worth $28,000. Lindbrook Capital LLC bought a new position in Grail during the fourth quarter worth $28,000. Sterling Capital Management LLC bought a new position in Grail during the fourth quarter worth $29,000. Finally, Wellington Shields Capital Management LLC bought a new position in Grail during the fourth quarter worth $33,000.

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.