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

Grail, Inc. (NASDAQ:GRAL) shares gapped down prior to trading on Thursday . The stock had previously closed at $52.60, but opened at $49.04. Grail shares last traded at $49.32, with a volume of 363,066 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley initiated coverage on Grail in a report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price target on the stock. Wolfe Research started coverage on shares of Grail in a report on Friday, November 15th. They issued a “peer perform” rating on the stock.

Grail Trading Down 9.5 %

The business has a fifty day moving average price of $25.78 and a two-hundred day moving average price of $18.86.

Hedge Funds Weigh In On Grail

A number of hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC acquired a new position in Grail during the fourth quarter worth $26,000. State of Tennessee Department of Treasury purchased a new position in Grail during the 4th quarter valued at about $28,000. Lindbrook Capital LLC acquired a new position in Grail in the 4th quarter valued at about $28,000. Sterling Capital Management LLC purchased a new stake in Grail during the fourth quarter worth about $29,000. Finally, Wellington Shields Capital Management LLC acquired a new stake in shares of Grail during the fourth quarter worth about $33,000.

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.