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

Grail (NASDAQ:GRAL) had its price target upped by investment analysts at Morgan Stanley from $16.00 to $20.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 28.60% from the stock’s previous close.

Grail Trading Down 0.6 %

NASDAQ GRAL opened at $28.01 on Tuesday. Grail has a 52 week low of $12.33 and a 52 week high of $63.99. The business’s fifty day simple moving average is $32.41 and its 200-day simple moving average is $21.63.

Grail (NASDAQ:GRAL) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) EPS for the quarter, topping the consensus estimate of ($4.41) by $2.55. The company had revenue of $38.25 million for the quarter, compared to analysts’ expectations of $35.33 million. As a group, sell-side analysts forecast 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 stock was 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 $17,461,797.60. The trade was a 0.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Aaron Freidin sold 1,816 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 $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 approximately $10,457,304. This represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,550 shares of company stock worth $360,436.

Hedge Funds Weigh In On Grail

Several institutional investors have recently bought and sold shares of GRAL. Crcm LP acquired a new position in Grail in the 4th quarter valued at about $65,061,000. Sessa Capital IM L.P. acquired a new position in shares of Grail during the fourth quarter worth about $53,550,000. Primecap Management Co. CA acquired a new position in shares of Grail during the fourth quarter worth about $37,118,000. Baker BROS. Advisors LP acquired a new position in shares of Grail during the fourth quarter worth about $29,098,000. Finally, Vanguard Group Inc. acquired a new position in shares of Grail during the fourth quarter worth about $25,902,000.

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.