Grail (NASDAQ:GRAL) Hits New 12-Month High – Should You Buy?

Grail, Inc. (NASDAQ:GRAL) reached a new 52-week high on Friday . The stock traded as high as $31.59 and last traded at $31.51, with a volume of 1479432 shares. The stock had previously closed at $26.67.

Analyst Upgrades and Downgrades

GRAL has been the subject of several recent analyst reports. Wolfe Research assumed coverage on Grail in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Morgan Stanley initiated coverage on Grail in a research note on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 target price on the stock. Finally, Guggenheim initiated coverage on shares of Grail in a research report on Thursday, October 17th. They issued a “neutral” rating for the company.

Grail Stock Down 3.9 %

The stock’s 50 day moving average price is $20.34 and its two-hundred day moving average price is $16.66.

Grail (NASDAQ:GRAL) last issued its earnings results on Tuesday, November 12th. The company reported ($3.94) earnings per share for the quarter. The business had revenue of $28.65 million during the quarter. Research analysts predict that Grail, Inc. will post -65.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Aaron Freidin sold 30,452 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $14.02, for a total value 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 represents a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Grail

Several large investors have recently made changes to their positions in GRAL. abrdn plc bought a new position in Grail during the fourth quarter valued at about $3,768,000. Douglas Lane & Associates LLC bought a new stake in shares of Grail in the 4th quarter worth about $3,034,000. Slow Capital Inc. acquired a new position in Grail in the fourth quarter valued at about $2,379,000. 180 Wealth Advisors LLC acquired a new stake in shares of Grail during the fourth quarter worth approximately $1,681,000. Finally, Moloney Securities Asset Management LLC bought a new position in Grail in the 4th quarter valued at $559,000.

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.