Grail (NASDAQ:GRAL) Sees Unusually-High Trading Volume – Time to Buy?

Grail, Inc. (NASDAQ:GRAL) saw unusually-strong trading volume on Wednesday . Approximately 767,467 shares were traded 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.

Wall Street Analyst Weigh In

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

Grail Price Performance

The business has a fifty day moving average price of $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 firm had revenue of $28.65 million for the quarter. Research analysts anticipate that Grail, Inc. will post -65.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Grail

In other news, CFO Aaron Freidin sold 30,452 shares of the 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 sale, the chief financial officer now owns 268,277 shares in the company, valued at $3,761,243.54. This represents a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Grail

Several hedge funds have recently added to or reduced their stakes in the business. Douglas Lane & Associates LLC acquired a new position in shares of Grail in the 4th quarter valued at about $3,034,000. 180 Wealth Advisors LLC acquired a new position in Grail in the fourth quarter valued at approximately $1,681,000. Wesbanco Bank Inc. purchased a new stake in Grail in the 4th quarter worth approximately $523,000. Exchange Traded Concepts LLC acquired a new stake in shares of Grail during the 4th quarter worth approximately $507,000. Finally, A. D. Beadell Investment Counsel Inc. purchased a new position in shares of Grail during the 4th quarter valued at approximately $430,000.

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.