Grail (NASDAQ:GRAL) Shares Up 8.1% – Should You Buy?

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GRAL shares. Guggenheim began coverage on Grail in a report on Thursday, October 17th. They issued a “neutral” rating for the company. Wolfe Research began 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 started coverage on Grail in a report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price target for the company.

Grail Trading Up 3.4 %

The stock has a 50 day moving average price of $14.60.

Insider Activity

In related news, CEO Robert P. Ragusa sold 123,454 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.02, for a total value of $1,730,825.08. Following the transaction, the chief executive officer now owns 612,661 shares in the company, valued at approximately $8,589,507.22. This trade represents a 16.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Chun R. Ding acquired 35,000 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The shares were purchased at an average cost of $12.71 per share, with a total value of $444,850.00. Following the transaction, the insider now directly owns 3,558,655 shares of the company’s stock, valued at $45,230,505.05. This trade represents a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 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.