Canaccord Genuity Group Begins Coverage on Grail (NASDAQ:GRAL)

Canaccord Genuity Group assumed coverage on shares of Grail (NASDAQ:GRAL - Free Report) in a research report sent to investors on Monday, Marketbeat.com reports. The firm issued a buy rating and a $32.00 price target on the stock.

Separately, Morgan Stanley boosted their price target on Grail from $16.00 to $20.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 18th.

Grail Trading Down 1.3 %

Grail stock traded down $0.49 during mid-day trading on Monday, hitting $37.20. 939,800 shares of the company's stock traded hands, compared to its average volume of 1,223,239. The firm has a 50 day simple moving average of $31.34 and a two-hundred day simple moving average of $24.09. Grail has a fifty-two week low of $12.33 and a fifty-two week high of $63.99.

Grail (NASDAQ:GRAL - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.86) earnings per share for the quarter, beating the consensus estimate of ($4.41) by $2.55. The company had revenue of $38.25 million during the quarter, compared to the consensus estimate of $35.33 million. Research analysts forecast that Grail will post -15.15 EPS for the current year.

Insiders Place Their Bets

In other Grail news, President Joshua J. Ofman sold 2,109 shares of the firm's 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 transaction, the president now directly owns 559,673 shares of the company's stock, valued at $17,461,797.60. This trade represents a 0.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert P. Ragusa sold 7,625 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.21, for a total transaction of $237,976.25. Following the sale, the chief executive officer now directly owns 828,662 shares of the company's stock, valued at approximately $25,862,541.02. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,550 shares of company stock worth $360,436 in the last 90 days.

Institutional Investors Weigh In On Grail

Large investors have recently modified their holdings of the business. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in Grail in the fourth quarter valued at about $244,000. Moloney Securities Asset Management LLC bought a new stake in shares of Grail during the 4th quarter valued at approximately $559,000. Rhumbline Advisers acquired a new position in Grail during the 4th quarter worth approximately $456,000. Wesbanco Bank Inc. bought a new position in Grail in the 4th quarter valued at approximately $523,000. Finally, Slow Capital Inc. bought a new position in Grail in the 4th quarter valued at approximately $2,379,000.

Grail Company Profile

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.