Grail (NASDAQ:GRAL) Stock Price Up 8.1% – Here’s Why

Grail, Inc. (NASDAQ:GRAL) shares were up 8.1% on Monday . The company traded as high as $18.99 and last traded at $18.92. Approximately 248,407 shares changed hands during trading, a decline of 77% from the average daily volume of 1,057,470 shares. The stock had previously closed at $17.50.

Wall Street Analyst Weigh In

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

Grail Price Performance

The stock’s 50-day simple moving average is $14.36.

Insider Buying and Selling

In related news, CFO Aaron Freidin sold 30,452 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was 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 of the company’s stock, valued at $3,761,243.54. The trade was a 10.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Chun R. Ding bought 7,629 shares of the stock in a transaction dated Tuesday, October 1st. The shares were acquired at an average price of $13.52 per share, for a total transaction of $103,144.08. Following the completion of the purchase, the insider now directly owns 3,503,655 shares in the company, valued at approximately $47,369,415.60. This trade represents a 0.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 58,829 shares of company stock worth $757,298.

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.