Grail (NASDAQ:GRAL) Shares Down 11.1% – Here’s Why

Shares of Grail, Inc. (NASDAQ:GRAL) fell 11.1% on Wednesday . The stock traded as low as $20.78 and last traded at $21.00. 660,289 shares changed hands during trading, a decline of 38% from the average session volume of 1,059,131 shares. The stock had previously closed at $23.62.

Wall Street Analysts Forecast Growth

GRAL has been the subject of a number of recent analyst reports. Morgan Stanley started coverage on shares of Grail in a report on Wednesday, November 27th. They issued an “equal weight” rating and a $16.00 target price for the company. Wolfe Research initiated coverage on shares of Grail in a research note on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Guggenheim started coverage on Grail in a research report on Thursday, October 17th. They issued a “neutral” rating on the stock.

Grail Stock Down 5.3 %

The firm has a fifty day moving average price of $16.46.

Insider Buying and Selling at Grail

In related news, major shareholder Chun R. Ding bought 7,629 shares of the stock in a transaction dated Tuesday, October 1st. The stock was acquired at an average price of $13.52 per share, for a total transaction of $103,144.08. Following the completion of the purchase, the insider now owns 3,503,655 shares in the company, valued at $47,369,415.60. This represents a 0.22 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aaron Freidin sold 30,452 shares of the business’s 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 in the company, valued at $3,761,243.54. This trade represents a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired a total of 58,829 shares of company stock valued at $757,298 over the last ninety days.

Grail Company Profile

GRAIL, Inc, a biotechnology company, focuses on developing technologies for early cancer detection. The company develops Galleri, a screening test for asymptomatic individuals over 50 years of age; and DAC, a diagnostic aid for cancer tests to accelerate diagnostic resolution for patients for whom there is a clinical suspicion of cancer.