Morgan Stanley Begins Coverage on Grail (NASDAQ:GRAL)

Equities researchers at Morgan Stanley started coverage on shares of Grail (NASDAQ:GRAL) in a research note issued on Wednesday, Marketbeat.com reports. The brokerage set an “equal weight” rating and a $16.00 price target on the stock. Morgan Stanley’s price objective would indicate a potential downside of 8.31% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Guggenheim initiated coverage on shares of Grail in a report on Thursday, October 17th. They issued a “neutral” rating on the stock. Wolfe Research assumed coverage on Grail in a research report on Friday, November 15th. They issued a “peer perform” rating for the company.

Grail Stock Performance

NASDAQ GRAL opened at $17.45 on Wednesday. Grail has a 52 week low of $12.33 and a 52 week high of $23.36. The business’s fifty day moving average is $14.29.

Insiders Place Their Bets

In related news, CEO Robert P. Ragusa sold 123,454 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $14.02, for a total transaction of $1,730,825.08. Following the completion of the transaction, the chief executive officer now directly owns 612,661 shares in the company, valued at $8,589,507.22. This trade represents a 16.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Chun R. Ding bought 35,000 shares of the company’s stock in a transaction on Thursday, October 3rd. The stock was purchased at an average cost of $12.71 per share, with a total value of $444,850.00. Following the completion of the transaction, the insider now owns 3,558,655 shares in the company, valued at $45,230,505.05. This represents a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 58,829 shares of company stock valued at $757,298 over the last 90 days.

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.