Grail (NASDAQ:GRAL) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Grail (NASDAQ:GRAL) had its target price upped by Morgan Stanley from $16.00 to $20.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 28.60% from the stock’s current price.

Grail Stock Performance

GRAL stock opened at $28.01 on Tuesday. The business has a 50 day moving average price of $32.41 and a 200 day moving average price of $21.63. Grail has a fifty-two week low of $12.33 and a fifty-two week high of $63.99.

Grail (NASDAQ:GRAL) last posted its earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share for the quarter, topping the consensus estimate 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. Analysts forecast that Grail will post -15.15 EPS for the current fiscal year.

Insider Transactions at Grail

In related news, President Joshua J. Ofman sold 2,109 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $31.20, for a total transaction of $65,800.80. Following the sale, the president now owns 559,673 shares of the company’s stock, valued at $17,461,797.60. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert P. Ragusa sold 7,625 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 828,662 shares in the company, valued at approximately $25,862,541.02. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,550 shares of company stock worth $360,436 over the last 90 days.

Hedge Funds Weigh In On Grail

Several large investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System purchased a new position in Grail during the fourth quarter worth about $464,000. Alpha Wealth Funds LLC purchased a new position in shares of Grail in the 4th quarter worth about $2,562,000. Ameriflex Group Inc. purchased a new position in shares of Grail in the 4th quarter worth about $95,000. PVG Asset Management Corp purchased a new position in shares of Grail in the 4th quarter worth about $398,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Grail in the 4th quarter worth about $334,000.

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.