Grail (NASDAQ:GRAL) Trading Down 3.6% – Here’s What Happened

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

Wall Street Analyst Weigh In

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

Grail Stock Down 9.0 %

The business’s fifty day moving average is $33.62 and its 200-day moving average is $22.21.

Grail (NASDAQ:GRAL) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share 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. On average, equities analysts expect that Grail, Inc. will post -15.15 earnings per share for the current year.

Insider Transactions at Grail

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

Institutional Investors Weigh In On Grail

Hedge funds and other institutional investors have recently made changes to their positions in the business. FNY Investment Advisers LLC bought a new stake in Grail during the fourth quarter worth $26,000. Lindbrook Capital LLC bought a new position in Grail during the fourth quarter valued at about $28,000. State of Tennessee Department of Treasury purchased a new stake in Grail during the fourth quarter worth about $28,000. Sterling Capital Management LLC purchased a new stake in shares of Grail during the 4th quarter worth approximately $29,000. Finally, Wellington Shields Capital Management LLC bought a new stake in shares of Grail in the fourth quarter valued at $33,000.

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.