Grail (NASDAQ:GRAL) Shares Up 8.8% – Time to Buy?

Grail, Inc. (NASDAQ:GRAL) shares shot up 8.8% during mid-day trading on Wednesday . The stock traded as high as $16.42 and last traded at $16.42. 60,464 shares changed hands during trading, a decline of 94% from the average session volume of 1,090,907 shares. The stock had previously closed at $15.09.

Wall Street Analyst Weigh In

Separately, Guggenheim initiated coverage on shares of Grail in a report on Thursday, October 17th. They issued a “neutral” rating for the company.

Grail Price Performance

The stock has a 50-day simple moving average of $13.74.

Grail (NASDAQ:GRAL) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($5.30) EPS for the quarter. The firm had revenue of $31.97 million during the quarter.

Insider Buying and Selling at Grail

In related news, major shareholder Chun R. Ding acquired 7,629 shares of the stock in a transaction on Tuesday, October 1st. The shares were bought at an average price of $13.52 per share, with a total value of $103,144.08. Following the completion of the purchase, the insider now owns 3,503,655 shares of the company’s stock, valued at approximately $47,369,415.60. This represents a 0.22 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert P. Ragusa sold 123,454 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $14.02, for a total value 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 approximately $8,589,507.22. This trade represents a 16.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased 58,829 shares of company stock worth $757,298 over the last quarter.

Grail Company Profile

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.