Grail (NASDAQ:GRAL) Hits New 12-Month High – Here’s Why

Shares of Grail, Inc. (NASDAQ:GRAL) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $23.71 and last traded at $23.21, with a volume of 300071 shares changing hands. The stock had previously closed at $22.16.

Analyst Upgrades and Downgrades

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

Grail Stock Up 2.6 %

The company has a fifty day simple moving average of $15.86.

Insiders Place Their Bets

In other news, CFO Aaron Freidin sold 30,452 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $14.02, for a total transaction of $426,937.04. Following the transaction, the chief financial officer now owns 268,277 shares of the company’s stock, valued at $3,761,243.54. This represents a 10.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Chun R. Ding purchased 7,629 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was purchased at an average price of $13.52 per share, for a total transaction of $103,144.08. Following the acquisition, the insider now owns 3,503,655 shares of the company’s stock, valued at $47,369,415.60. The trade was a 0.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 58,829 shares of company stock valued at $757,298 in the last 90 days.

Grail Company Profile

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.