Morgan Stanley Forecasts Strong Price Appreciation for Grail (NASDAQ:GRAL) Stock

Grail (NASDAQ:GRAL) had its price objective lifted by Morgan Stanley from $16.00 to $20.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential downside of 26.09% from the stock’s current price.

Grail Trading Down 7.1 %

NASDAQ GRAL traded down $2.07 during trading hours on Tuesday, reaching $27.06. 367,313 shares of the company’s stock traded hands, compared to its average volume of 1,220,990. Grail has a 52-week low of $12.33 and a 52-week high of $63.99. The firm has a 50-day simple moving average of $32.00 and a 200 day simple moving average of $21.49.

Grail (NASDAQ:GRAL) last issued its quarterly 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 business had revenue of $38.25 million for the quarter, compared to analysts’ expectations of $35.33 million. As a group, sell-side analysts expect that Grail will post -15.15 EPS for the current fiscal year.

Insider Activity at Grail

In other Grail news, President Joshua J. Ofman sold 2,109 shares of Grail stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $31.20, for a total value of $65,800.80. Following the completion of the transaction, the president now directly owns 559,673 shares of the company’s stock, valued at approximately $17,461,797.60. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aaron Freidin sold 1,816 shares of Grail stock in a transaction dated 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 transaction, the chief financial officer now directly owns 335,170 shares of the company’s stock, valued at $10,457,304. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,550 shares of company stock valued at $360,436 in the last three months.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new position in Grail in the fourth quarter worth about $26,000. Lindbrook Capital LLC purchased a new position in Grail in the fourth quarter worth about $28,000. State of Tennessee Department of Treasury purchased a new position in Grail in the fourth quarter worth about $28,000. Sterling Capital Management LLC purchased a new position in Grail in the fourth quarter worth about $29,000. Finally, Wellington Shields Capital Management LLC purchased a new position in shares of Grail during the fourth quarter valued at approximately $33,000.

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.