Grail (NASDAQ:GRAL) Trading Down 4.5% – Here’s What Happened

Grail, Inc. (NASDAQ:GRAL) was down 4.5% during mid-day trading on Monday . The stock traded as low as $28.32 and last traded at $28.40. Approximately 246,749 shares were traded during trading, a decline of 80% from the average daily volume of 1,222,546 shares. The stock had previously closed at $29.74.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upped their target price on Grail from $16.00 to $20.00 and gave the company an “equal weight” rating in a report on Tuesday.

Grail Stock Down 3.3 %

The business has a fifty day moving average price of $32.20 and a two-hundred day moving average price of $21.59.

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

Insider Activity

In related news, CEO Robert P. Ragusa sold 7,625 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.21, for a total value of $237,976.25. Following the completion of the sale, the chief executive officer now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Joshua J. Ofman sold 2,109 shares of the business’s 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 completion of the sale, the president now directly owns 559,673 shares of the company’s stock, valued at approximately $17,461,797.60. The trade was a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,550 shares of company stock worth $360,436 in the last 90 days.

Institutional Investors Weigh In On Grail

Several large investors have recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in shares of Grail in the 4th quarter valued at approximately $26,000. State of Tennessee Department of Treasury bought a new stake in Grail during the fourth quarter worth approximately $28,000. Lindbrook Capital LLC bought a new stake in Grail during the fourth quarter worth approximately $28,000. Sterling Capital Management LLC bought a new stake in Grail during the fourth quarter worth approximately $29,000. Finally, Wellington Shields Capital Management LLC bought a new stake in Grail during the fourth 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.