Grail (NASDAQ:GRAL) Shares Down 11.1% – Should You Sell?

Shares of Grail, Inc. (NASDAQ:GRAL) were down 11.1% during trading on Wednesday . The stock traded as low as $20.78 and last traded at $21.00. Approximately 660,289 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 1,059,131 shares. The stock had previously closed at $23.62.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Guggenheim assumed coverage on shares of Grail in a research note on Thursday, October 17th. They issued a “neutral” rating for the company. Wolfe Research started coverage on Grail in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Morgan Stanley started coverage on shares of Grail in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price target on the stock.

Grail Trading Down 16.0 %

The stock has a 50 day moving average of $16.27.

Insider Activity

In other Grail news, major shareholder Chun R. Ding acquired 35,000 shares of the stock in a transaction on Thursday, October 3rd. The stock was purchased at an average price of $12.71 per share, for a total transaction of $444,850.00. Following the purchase, the insider now directly owns 3,558,655 shares in the company, valued at $45,230,505.05. This trade represents a 0.99 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Aaron Freidin sold 30,452 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $14.02, for a total value of $426,937.04. Following the completion of the transaction, the chief financial officer now directly owns 268,277 shares in the company, valued at approximately $3,761,243.54. The trade was a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 58,829 shares of company stock worth $757,298.

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.