Grail (NASDAQ:GRAL) Shares Down 3.6% – Here’s Why

Grail, Inc. (NASDAQ:GRAL) shares traded down 3.6% during trading on Tuesday . The stock traded as low as $30.19 and last traded at $30.97. 128,782 shares were traded during trading, a decline of 89% from the average session volume of 1,224,569 shares. The stock had previously closed at $32.13.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley increased their price objective on Grail from $16.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday, March 18th.

Grail Stock Down 3.4 %

The business’s 50 day simple moving average is $33.14 and its 200 day simple moving average is $22.04.

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 company had revenue of $38.25 million during the quarter, compared to analyst estimates of $35.33 million. Equities research analysts anticipate that Grail, Inc. will post -15.15 EPS for the current year.

Insider Buying and Selling

In other news, CFO Aaron Freidin sold 1,816 shares of the firm’s 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Joshua J. Ofman sold 2,109 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 $65,800.80. Following the transaction, the president now owns 559,673 shares in the company, valued at approximately $17,461,797.60. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,550 shares of company stock valued at $360,436 over the last three months.

Hedge Funds Weigh In On Grail

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

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.