Grail (NASDAQ:GRAL) Reaches New 12-Month High – What’s Next?

Grail, Inc. (NASDAQ:GRAL) reached a new 52-week high during trading on Thursday . The company traded as high as $39.48 and last traded at $39.26, with a volume of 1777607 shares traded. The stock had previously closed at $33.15.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GRAL. Morgan Stanley began coverage on shares of Grail in a report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price target on the stock. Wolfe Research began coverage on shares of Grail in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Guggenheim began coverage on shares of Grail in a research report on Thursday, October 17th. They issued a “neutral” rating for the company.

Grail Stock Up 18.4 %

The business’s 50 day moving average price is $22.29 and its 200-day moving average price is $17.43.

Grail (NASDAQ:GRAL) last posted its earnings results on Tuesday, November 12th. The company reported ($3.94) earnings per share for the quarter. The firm had revenue of $28.65 million for the quarter. Sell-side analysts forecast that Grail, Inc. will post -65.16 earnings per share for the current year.

Insider Activity at Grail

In other Grail news, CFO Aaron Freidin sold 30,452 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $14.02, for a total transaction of $426,937.04. Following the sale, the chief financial officer now directly owns 268,277 shares in the company, valued at approximately $3,761,243.54. This trade represents a 10.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Institutional Trading of Grail

A number of hedge funds and other institutional investors have recently made changes to their positions in GRAL. FNY Investment Advisers LLC acquired a new position in shares of Grail in the fourth quarter valued at $26,000. Lindbrook Capital LLC bought a new stake in Grail during the fourth quarter worth about $28,000. Wellington Shields Capital Management LLC bought a new position in shares of Grail in the fourth quarter worth about $33,000. New York State Common Retirement Fund bought a new position in shares of Grail in the fourth quarter worth about $59,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Grail in the fourth quarter worth about $64,000.

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.