Grail (NASDAQ:GRAL) Hits New 52-Week High – What’s Next?

Grail, Inc. (NASDAQ:GRAL)’s stock price reached a new 52-week high on Friday . The stock traded as high as $23.44 and last traded at $23.05, with a volume of 117261 shares trading hands. The stock had previously closed at $22.41.

Analysts Set New Price Targets

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

Grail Price Performance

The company’s 50-day moving average price is $15.06.

Insiders Place Their Bets

In other news, CEO Robert P. Ragusa sold 123,454 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $14.02, for a total value of $1,730,825.08. Following the completion of the sale, the chief executive officer now owns 612,661 shares in the company, valued at $8,589,507.22. This represents a 16.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Aaron Freidin sold 30,452 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were 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 $3,761,243.54. The trade was a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have 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.