Grail (NASDAQ:GRAL) Stock Price Down 7.4% – Here’s What Happened

Grail, Inc. (NASDAQ:GRAL) was down 7.4% during mid-day trading on Tuesday . The stock traded as low as $18.14 and last traded at $18.21. Approximately 127,209 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 383,007 shares. The stock had previously closed at $19.67.

Wall Street Analyst Weigh In

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

Grail Stock Down 7.5 %

The company has a 50-day simple moving average of $17.62.

Insider Transactions at Grail

In other news, CFO Aaron Freidin sold 30,452 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 268,277 shares of the company’s stock, valued at approximately $3,761,243.54. The trade was a 10.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Chun R. Ding acquired 16,200 shares of Grail stock in a transaction that occurred on Wednesday, October 9th. The shares were purchased at an average price of $12.92 per share, for a total transaction of $209,304.00. Following the completion of the purchase, the insider now directly owns 3,644,855 shares of the company’s stock, valued at $47,091,526.60. The trade was a 0.45 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

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.