Grail (NASDAQ:GRAL) Trading Down 4.5% – Here’s What Happened

Grail, Inc. (NASDAQ:GRAL) shares fell 4.5% during trading on Monday . The stock traded as low as $28.32 and last traded at $28.40. 246,749 shares were traded during mid-day trading, a decline of 80% from the average session volume of 1,222,546 shares. The stock had previously closed at $29.74.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley raised their target price on Grail from $16.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday.

Grail Price Performance

The firm has a 50-day moving average of $32.20 and a 200 day moving average of $21.59.

Grail (NASDAQ:GRAL) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.41) by $2.55. The firm had revenue of $38.25 million for the quarter, compared to analyst estimates of $35.33 million. Equities analysts anticipate that Grail, Inc. will post -15.15 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Grail

Several hedge funds and other institutional investors have recently bought and sold shares of GRAL. Douglas Lane & Associates LLC bought a new stake in Grail in the fourth quarter worth about $3,034,000. A. D. Beadell Investment Counsel Inc. bought a new stake in Grail in the fourth quarter worth about $430,000. FNY Investment Advisers LLC bought a new stake in Grail in the fourth quarter worth about $26,000. 180 Wealth Advisors LLC acquired a new stake in Grail during the 4th quarter worth about $1,681,000. Finally, B & T Capital Management DBA Alpha Capital Management acquired a new stake in Grail during the 4th quarter worth about $387,000.

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.