Grail (NASDAQ:GRAL) Shares Gap Down – Here’s What Happened

Grail, Inc. (NASDAQ:GRAL)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $52.58, but opened at $50.30. Grail shares last traded at $53.61, with a volume of 693,256 shares.

Analysts Set New Price Targets

Several analysts have recently weighed in on GRAL shares. Guggenheim started coverage on Grail in a report on Thursday, October 17th. They set a “neutral” rating on the stock. 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 Grail in a report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price target on the stock.

Grail Stock Down 2.3 %

The stock has a 50 day moving average of $23.27 and a 200 day moving average of $17.82.

Grail (NASDAQ:GRAL) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($3.94) EPS for the quarter. The company had revenue of $28.65 million during the quarter. Analysts predict that Grail, Inc. will post -65.16 EPS for the current year.

Insider Buying and Selling

In related news, CFO Aaron Freidin sold 30,452 shares of Grail stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $14.02, for a total value of $426,937.04. Following the transaction, the chief financial officer now directly owns 268,277 shares of the company’s stock, valued at $3,761,243.54. The trade was a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Hedge Funds Weigh In On Grail

Several institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new position in Grail in the fourth quarter valued at approximately $26,000. State of Tennessee Department of Treasury acquired a new position in Grail in the fourth quarter valued at approximately $28,000. Lindbrook Capital LLC acquired a new position in Grail in the fourth quarter valued at approximately $28,000. Sterling Capital Management LLC acquired a new position in Grail in the fourth quarter valued at approximately $29,000. Finally, Wellington Shields Capital Management LLC acquired a new position in Grail in the fourth quarter valued at approximately $33,000.

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.