Grail (NASDAQ:GRAL) Sees Large Volume Increase - Here's Why

Grail, Inc. (NASDAQ:GRAL) experienced a significant rise in trading volume on Wednesday, with around 767,467 shares changing hands. This marks a 7% increase compared to the previous session's volume of 716,739 shares. The stock was last traded at $21.69, up from its previous close of $18.49.

Analyst Ratings

Several analysts have shared their thoughts on Grail's stock performance. Guggenheim initiated coverage on Grail on October 17, assigning a "neutral" rating. Wolfe Research followed suit on November 15, giving the stock a "peer perform" rating. Meanwhile, Morgan Stanley started covering Grail on November 27, assigning an "equal weight" rating along with a target price of $16.00.

Stock Overview

The current 50-day moving average price for Grail is set at $18.57. The company reported its quarterly earnings on November 12, indicating an earnings per share (EPS) loss of ($3.94) for the quarter, with total revenue reported at $28.65 million. Analysts predict that Grail, Inc. will end the current year with an EPS of -65.16.

Insider Transactions

In recent insider activity, CFO Aaron Freidin sold 30,452 shares of Grail stock on November 18, at an average price of $14.02. This transaction totaled approximately $426,937.04, and after the sale, Freidin now holds about 268,277 shares in the company, valued at roughly $3,761,243.54, representing a 10.19% decrease in their holdings. This sale has been disclosed via a filing with the Securities and Exchange Commission.

Institutional Activity

Recent reports show that several large investors have either bought or sold shares in Grail. In the fourth quarter, 180 Wealth Advisors LLC invested approximately $1,681,000 in Grail, while Douglas Lane & Associates LLC acquired a new position worth about $3,034,000. Other investors included B&T Capital Management and FNY Investment Advisers, who both made new investments in the company, contributing to overall institutional interest.

Company Background

Grail, Inc. is a healthcare firm focused on developing innovative technology for the early detection of cancer. Founded on September 11, 2015, by Jeffrey T. Huber, William H. Rastetter, and Mostafa Ronaghi, the company is based in Menlo Park, California. Grail is targeting the burgeoning $100 billion cancer market.

Grail, Stocks, Volume