Canaccord Genuity Group Begins Coverage on Grail (NASDAQ:GRAL)

Research analysts at Canaccord Genuity Group started coverage on shares of Grail (NASDAQ:GRAL) in a report issued on Monday,Benzinga reports. The brokerage set a “buy” rating and a $32.00 price target on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 18.52% from the stock’s previous close.

Separately, Morgan Stanley increased 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 Stock Up 1.9 %

Shares of GRAL opened at $27.00 on Monday. The stock has a 50-day moving average of $32.83 and a two-hundred day moving average of $23.72. Grail has a one year low of $12.33 and a one year high of $63.99.

Grail (NASDAQ:GRAL) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share for the quarter, topping the consensus estimate of ($4.41) by $2.55. The business had revenue of $38.25 million during the quarter, compared to analyst estimates of $35.33 million. On average, equities analysts expect that Grail will post -15.15 earnings per share for the current year.

Insider Activity

In related news, CEO Robert P. Ragusa sold 7,625 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $31.21, for a total transaction of $237,976.25. Following the sale, the chief executive officer now owns 828,662 shares in the company, valued at approximately $25,862,541.02. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aaron Freidin sold 1,816 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.20, for a total transaction of $56,659.20. Following the completion of the transaction, the chief financial officer now owns 335,170 shares of the company’s stock, valued at approximately $10,457,304. This trade represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,550 shares of company stock valued at $360,436 in the last three months.

Hedge Funds Weigh In On Grail

Hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Grail during the 1st quarter worth approximately $719,000. Caldwell Sutter Capital Inc. purchased a new stake in Grail in the 1st quarter worth $28,000. Pallas Capital Advisors LLC acquired a new position in Grail during the first quarter worth $257,000. Wesbanco Bank Inc. lifted its holdings in Grail by 9.2% during the first quarter. Wesbanco Bank Inc. now owns 32,000 shares of the company’s stock valued at $817,000 after purchasing an additional 2,700 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of Grail in the first quarter valued at about $206,000.

Grail Company Profile

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.