Grail (NASDAQ:GRAL) Trading Down 4.1% – Here’s Why

Grail, Inc. (NASDAQ:GRAL) shares traded down 4.1% during trading on Tuesday . The company traded as low as $24.08 and last traded at $23.00. 280,781 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 1,214,771 shares. The stock had previously closed at $23.98.

Analyst Ratings Changes

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

Grail Stock Down 7.2 %

The business has a fifty day simple moving average of $34.20 and a 200 day simple moving average of $22.93.

Grail (NASDAQ:GRAL) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.86) EPS 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 the consensus estimate of $35.33 million. Equities research analysts predict 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 business’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 value 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. The trade was a 0.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Joshua J. Ofman sold 2,109 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 $65,800.80. Following the sale, the president now directly owns 559,673 shares of the company’s stock, valued at approximately $17,461,797.60. This trade represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,550 shares of company stock worth $360,436.

Hedge Funds Weigh In On Grail

A number of hedge funds have recently added to or reduced their stakes in GRAL. FNY Investment Advisers LLC bought a new stake in shares of Grail in the 4th quarter worth $26,000. State of Tennessee Department of Treasury purchased a new position in Grail during the fourth quarter worth about $28,000. Lindbrook Capital LLC bought a new stake in Grail in the 4th quarter worth about $28,000. Sterling Capital Management LLC purchased a new stake in Grail in the 4th quarter valued at about $29,000. Finally, Wellington Shields Capital Management LLC purchased a new position in shares of Grail in the 4th quarter worth 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.