Grail (NASDAQ:GRAL) Stock Price Down 3.6% – Here’s What Happened

Shares of Grail, Inc. (NASDAQ:GRAL) were down 3.6% during trading on Tuesday . The company traded as low as $30.19 and last traded at $30.97. Approximately 128,782 shares were traded during trading, a decline of 89% from the average daily volume of 1,224,569 shares. The stock had previously closed at $32.13.

Wall Street Analyst Weigh In

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

Grail Price Performance

The stock has a 50-day moving average of $33.62 and a 200-day moving average of $22.21.

Grail (NASDAQ:GRAL) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) EPS for the quarter, topping analysts’ consensus estimates 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. As a group, analysts expect that Grail, Inc. will post -15.15 EPS for the current fiscal year.

Insider Activity

In other Grail news, CEO Robert P. Ragusa sold 7,625 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 828,662 shares of the company’s stock, valued at $25,862,541.02. The trade was a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $65,800.80. Following the transaction, the president now owns 559,673 shares in the company, valued at approximately $17,461,797.60. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,550 shares of company stock worth $360,436.

Institutional Trading of Grail

Institutional investors have recently modified their holdings of the company. Douglas Lane & Associates LLC purchased a new stake in Grail in the fourth quarter worth $3,034,000. A. D. Beadell Investment Counsel Inc. purchased a new position in Grail during the 4th quarter valued at about $430,000. FNY Investment Advisers LLC bought a new stake in Grail during the fourth quarter worth about $26,000. 180 Wealth Advisors LLC bought a new stake in shares of Grail in the 4th quarter worth approximately $1,681,000. Finally, B & T Capital Management DBA Alpha Capital Management purchased a new stake in shares of Grail in the fourth quarter worth $387,000.

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.