Grail (NASDAQ:GRAL) Coverage Initiated by Analysts at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Grail (NASDAQ:GRAL) in a research note issued to investors on Monday, MarketBeat.com reports. The firm issued a buy rating and a $32.00 price target on the stock.

Separately, Morgan Stanley raised their price target on shares of Grail from $16.00 to $20.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 18th.

Grail Price Performance

Shares of NASDAQ GRAL opened at $26.42 on Monday. Grail has a 12-month low of $12.33 and a 12-month high of $63.99. The stock’s 50 day simple moving average is $32.57 and its 200 day simple moving average is $23.81.

Grail (NASDAQ:GRAL) last posted its earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($4.41) by $2.55. The company had revenue of $38.25 million during the quarter, compared to the consensus estimate of $35.33 million. Sell-side analysts expect that Grail will post -15.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Robert P. Ragusa sold 7,625 shares of Grail stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.21, for a total value of $237,976.25. Following the transaction, the chief executive officer now owns 828,662 shares of the company’s stock, valued at $25,862,541.02. The trade was a 0.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Aaron Freidin sold 1,816 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.20, for a total transaction of $56,659.20. Following the completion of the sale, the chief financial officer now owns 335,170 shares in the company, valued at $10,457,304. The trade was a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,550 shares of company stock worth $360,436.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Crcm LP purchased a new position in Grail during the 4th quarter worth approximately $65,061,000. Sessa Capital IM L.P. acquired a new position in Grail during the fourth quarter valued at $53,550,000. Primecap Management Co. CA purchased a new stake in Grail in the 4th quarter worth about $37,118,000. Baker BROS. Advisors LP acquired a new stake in Grail during the 4th quarter worth about $29,098,000. Finally, Vanguard Group Inc. purchased a new position in Grail during the 4th quarter valued at about $25,902,000.

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.