Grail (NASDAQ:GRAL) Trading Down 6.7% – Here’s What Happened

Shares of Grail, Inc. (NASDAQ:GRAL) were down 6.7% during mid-day trading on Tuesday . The company traded as low as $30.26 and last traded at $29.95. Approximately 571,661 shares were traded during trading, a decline of 53% from the average daily volume of 1,215,585 shares. The stock had previously closed at $32.09.

Wall Street Analyst Weigh In

GRAL has been the subject of several recent analyst reports. Wolfe Research started coverage on Grail in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Morgan Stanley initiated coverage on Grail in a report on Wednesday, November 27th. They issued an “equal weight” rating and a $16.00 target price for the company.

Grail Trading Down 12.7 %

The firm’s 50-day simple moving average is $31.42 and its two-hundred day simple moving average is $21.15.

Grail (NASDAQ:GRAL) last released its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.41) by $2.55. The firm had revenue of $38.25 million during the quarter, compared to analyst estimates of $35.33 million. Equities analysts anticipate that Grail, Inc. will post -15.15 EPS for the current fiscal year.

Insider Transactions at Grail

In other news, President Joshua J. Ofman sold 2,109 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.20, for a total value of $65,800.80. Following the sale, the president now directly owns 559,673 shares in the company, valued at $17,461,797.60. This represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aaron Freidin sold 1,816 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.20, for a total transaction of $56,659.20. Following the transaction, the chief financial officer now directly owns 335,170 shares of the company’s stock, valued at approximately $10,457,304. This trade represents a 0.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,550 shares of company stock valued at $360,436 in the last 90 days.

Institutional Investors Weigh In On Grail

Institutional investors and hedge funds have recently bought and sold shares of the stock. Alpha Wealth Funds LLC acquired a new position in shares of Grail in the fourth quarter worth $2,562,000. Ameriflex Group Inc. acquired a new stake in shares of Grail during the fourth quarter valued at $95,000. PVG Asset Management Corp purchased a new stake in Grail during the 4th quarter worth about $398,000. Public Employees Retirement System of Ohio acquired a new position in Grail in the 4th quarter valued at about $334,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Grail in the 4th quarter valued at about $1,201,000.

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.