Grail (NASDAQ:GRAL) Shares Up 8.8% – Time to Buy?

Grail, Inc. (NASDAQ:GRAL) traded up 8.8% on Wednesday . The stock traded as high as $16.42 and last traded at $16.42. 60,464 shares were traded during mid-day trading, a decline of 94% from the average session volume of 1,090,907 shares. The stock had previously closed at $15.09.

Analysts Set New Price Targets

Separately, Guggenheim began coverage on Grail in a research report on Thursday, October 17th. They set a “neutral” rating for the company.

Grail Price Performance

The business’s fifty day simple moving average is $13.74.

Grail (NASDAQ:GRAL) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($5.30) earnings per share for the quarter. The firm had revenue of $31.97 million during the quarter.

Insider Activity

In other Grail news, major shareholder Chun R. Ding bought 35,000 shares of the stock in a transaction on Thursday, October 3rd. The stock was purchased at an average price of $12.71 per share, with a total value of $444,850.00. Following the acquisition, the insider now owns 3,558,655 shares of the company’s stock, valued at approximately $45,230,505.05. The trade was a 0.99 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert P. Ragusa sold 123,454 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $14.02, for a total transaction of $1,730,825.08. Following the completion of the transaction, the chief executive officer now directly owns 612,661 shares of the company’s stock, valued at $8,589,507.22. This trade represents a 16.77 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired 58,829 shares of company stock worth $757,298 over the last quarter.

About Grail

GRAIL, Inc, a biotechnology company, focuses on developing technologies for early cancer detection. The company develops Galleri, a screening test for asymptomatic individuals over 50 years of age; and DAC, a diagnostic aid for cancer tests to accelerate diagnostic resolution for patients for whom there is a clinical suspicion of cancer.