Grail (NASDAQ:GRAL) Shares Down 6.7% - What's Next?

Grail, Inc. (NASDAQ:GRAL - Get Free Report) dropped 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 mid-day trading, a decline of 53% from the average daily volume of 1,215,585 shares. The stock had previously closed at $32.09.

Analyst Ratings Changes

GRAL has been the topic of a number of recent research reports. Wolfe Research assumed coverage on Grail in a report on Friday, November 15th. They issued a "peer perform" rating on the stock. Morgan Stanley assumed 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 Trading Up 10.5 %

The business has a fifty day moving average price of $31.81 and a two-hundred day moving average price of $21.29.

Grail (NASDAQ:GRAL - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported ($1.86) EPS for the quarter, beating analysts' consensus estimates of ($4.41) by $2.55. The firm had revenue of $38.25 million during the quarter, compared to analysts' expectations of $35.33 million. As a group, analysts expect that Grail, Inc. will post -15.15 EPS for the current fiscal year.

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Insider Buying and Selling at Grail

In other Grail news, President Joshua J. Ofman sold 2,109 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.20, for a total value of $65,800.80. Following the transaction, the president now owns 559,673 shares in the company, valued at $17,461,797.60. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert P. Ragusa sold 7,625 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $31.21, for a total value of $237,976.25. Following the completion of the transaction, the chief executive officer now owns 828,662 shares in the company, valued at $25,862,541.02. This trade represents a 0.91 % 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 over the last 90 days.

Institutional Trading of Grail

Institutional investors and hedge funds have recently made changes to their positions in the stock. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Grail in the fourth quarter worth about $244,000. Moloney Securities Asset Management LLC acquired a new stake in shares of Grail in the fourth quarter worth about $559,000. Wesbanco Bank Inc. acquired a new stake in shares of Grail in the fourth quarter worth about $523,000. Rhumbline Advisers acquired a new stake in shares of Grail in the fourth quarter worth about $456,000. Finally, Slow Capital Inc. acquired a new stake in shares of Grail in the fourth quarter worth about $2,379,000.

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.