Grail (NASDAQ:GRAL) Sees Strong Trading Volume – Here’s Why

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

Analyst Upgrades and Downgrades

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

Grail Stock Performance

The stock’s 50 day moving average price is $18.57.

Grail (NASDAQ:GRAL) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($3.94) earnings per share (EPS) for the quarter. The company had revenue of $28.65 million during the quarter. As a group, research analysts anticipate that Grail, Inc. will post -65.16 EPS for the current year.

Insider Buying and Selling

In other news, CFO Aaron Freidin sold 30,452 shares of Grail 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 directly owns 268,277 shares in the company, valued at approximately $3,761,243.54. This trade represents a 10.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GRAL. 180 Wealth Advisors LLC bought a new position in shares of Grail in the fourth quarter valued at $1,681,000. Douglas Lane & Associates LLC acquired a new position in shares of Grail in the fourth quarter worth about $3,034,000. B & T Capital Management DBA Alpha Capital Management acquired a new stake in shares of Grail during the fourth quarter valued at approximately $387,000. FNY Investment Advisers LLC purchased a new stake in shares of Grail in the 4th quarter valued at approximately $26,000. Finally, A. D. Beadell Investment Counsel Inc. acquired a new position in Grail in the 4th quarter worth approximately $430,000.

About Grail

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.