Grail (NASDAQ:GRAL) Reaches New 12-Month High – Time to Buy?

Grail, Inc. (NASDAQ:GRAL) hit a new 52-week high on Thursday . The stock traded as high as $34.44 and last traded at $34.39, with a volume of 1457859 shares. The stock had previously closed at $28.28.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Wolfe Research initiated coverage on shares of Grail in a research note on Friday, November 15th. They issued a “peer perform” rating on the stock. Morgan Stanley started coverage on shares of Grail in a research note on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price target 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 Price Performance

The company has a 50-day simple moving average of $21.43 and a 200-day simple moving average of $17.04.

Grail (NASDAQ:GRAL) last posted its quarterly 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. As a group, equities analysts expect that Grail, Inc. will post -65.16 EPS for the current fiscal year.

Insider Buying and Selling at Grail

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

Institutional Trading of Grail

A number of institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in shares of Grail during the 4th quarter worth $26,000. Lindbrook Capital LLC purchased a new position in Grail during the 4th quarter valued at about $28,000. New York State Common Retirement Fund acquired a new position in Grail during the fourth quarter worth about $59,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Grail in the fourth quarter valued at about $64,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Grail in the fourth quarter valued at approximately $86,000.

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.