Grail (NASDAQ:GRAL) Shares Down 4.5% – Here’s Why

Grail, Inc. (NASDAQ:GRAL)’s stock price dropped 4.5% on Monday . The company traded as low as $28.32 and last traded at $28.40. Approximately 246,749 shares traded hands during trading, a decline of 80% from the average daily volume of 1,222,546 shares. The stock had previously closed at $29.74.

Analysts Set New Price Targets

Separately, Morgan Stanley initiated coverage on shares of Grail in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price objective for the company.

Grail Trading Down 2.5 %

The stock’s 50-day moving average is $31.81 and its two-hundred day moving average is $21.39.

Grail (NASDAQ:GRAL) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) EPS for the quarter, beating the consensus estimate of ($4.41) by $2.55. The business had revenue of $38.25 million during the quarter, compared to analysts’ expectations of $35.33 million. As a group, analysts expect that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Insider Transactions at Grail

In other Grail news, CFO Aaron Freidin sold 1,816 shares of Grail stock in a transaction on Friday, March 7th. The shares were sold at an average price of $31.20, for a total value of $56,659.20. Following the transaction, the chief financial officer now directly owns 335,170 shares in the company, valued at approximately $10,457,304. The trade was a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Robert P. Ragusa sold 7,625 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.21, for a total transaction of $237,976.25. Following the transaction, the chief executive officer now owns 828,662 shares in the company, valued at approximately $25,862,541.02. This trade represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,550 shares of company stock valued at $360,436.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in shares of Grail during the fourth quarter worth about $26,000. Lindbrook Capital LLC acquired a new position in shares of Grail during the fourth quarter worth about $28,000. State of Tennessee Department of Treasury acquired a new position in shares of Grail during the fourth quarter worth about $28,000. Sterling Capital Management LLC acquired a new position in shares of Grail during the fourth quarter worth about $29,000. Finally, Wellington Shields Capital Management LLC acquired a new position in shares of Grail during the fourth quarter worth about $33,000.

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.