Grail (NASDAQ:GRAL) Sets New 1-Year High – Still a Buy?

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

Analyst Upgrades and Downgrades

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

Grail Price Performance

The business has a 50-day moving average of $16.27.

Insiders Place Their Bets

In related news, CEO Robert P. Ragusa sold 123,454 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 612,661 shares of the company’s stock, valued at $8,589,507.22. This trade represents a 16.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Chun R. Ding acquired 35,000 shares of Grail 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 completion of the acquisition, the insider now owns 3,558,655 shares of the company’s stock, valued at $45,230,505.05. The trade was a 0.99 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 58,829 shares of company stock worth $757,298.

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.