Grail (NASDAQ:GRAL) Sees Unusually-High Trading Volume – Still a Buy?

Grail, Inc. (NASDAQ:GRAL) saw unusually-strong trading volume on Wednesday . Approximately 767,467 shares changed hands during trading, an increase of 7% from the previous session’s volume of 716,739 shares.The stock last traded at $21.69 and had previously closed at $18.49.

Analyst Upgrades and Downgrades

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

Grail Price Performance

The firm’s 50 day moving average is $18.43.

Grail (NASDAQ:GRAL) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($3.94) EPS for the quarter. The business had revenue of $28.65 million for the quarter. Equities analysts predict that Grail, Inc. will post -65.16 EPS for the current year.

Insider Buying and Selling

In other news, CFO Aaron Freidin sold 30,452 shares of Grail stock in a transaction on Monday, November 18th. The stock was sold at an average price of $14.02, for a total transaction of $426,937.04. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On Grail

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Douglas Lane & Associates LLC bought a new position in Grail in the 4th quarter worth about $3,034,000. A. D. Beadell Investment Counsel Inc. bought a new position in Grail in the fourth quarter worth approximately $430,000. FNY Investment Advisers LLC purchased a new position in Grail during the 4th quarter worth $26,000. 180 Wealth Advisors LLC bought a new stake in Grail during the 4th quarter valued at $1,681,000. Finally, B & T Capital Management DBA Alpha Capital Management purchased a new stake in shares of Grail in the 4th quarter worth $387,000.

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.