Grail (NASDAQ:GRAL) Trading Up 9.2% – Here’s Why

Grail, Inc. (NASDAQ:GRAL) shares shot up 9.2% during mid-day trading on Thursday . The company traded as high as $16.50 and last traded at $16.48. 552,345 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 1,080,371 shares. The stock had previously closed at $15.09.

Analyst Ratings Changes

GRAL has been the topic of several recent research reports. Guggenheim assumed coverage on shares of Grail in a research report on Thursday, October 17th. They set a “neutral” rating on the stock. Wolfe Research began coverage on shares of Grail in a report on Friday, November 15th. They issued a “peer perform” rating on the stock.

Grail Stock Up 8.5 %

The business’s 50-day simple moving average is $13.90.

Insider Activity at Grail

In other news, major shareholder Chun R. Ding bought 7,629 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were bought at an average price of $13.52 per share, with a total value of $103,144.08. Following the completion of the transaction, the insider now directly owns 3,503,655 shares in the company, valued at $47,369,415.60. This trade represents a 0.22 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert P. Ragusa sold 123,454 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 612,661 shares of the company’s stock, valued at approximately $8,589,507.22. This represents a 16.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 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.