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

Grail, Inc. (NASDAQ:GRAL)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $52.58, but opened at $50.30. Grail shares last traded at $53.61, with a volume of 693,256 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Grail in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 target price on the stock. Guggenheim assumed coverage on Grail in a research report on Thursday, October 17th. They set a “neutral” rating on the stock. Finally, Wolfe Research assumed coverage on Grail in a research report on Friday, November 15th. They set a “peer perform” rating on the stock.

Grail Trading Down 2.3 %

The business has a 50-day moving average price of $23.27 and a two-hundred day moving average price of $17.82.

Grail (NASDAQ:GRAL) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($3.94) EPS for the quarter. The company had revenue of $28.65 million during the quarter. Research analysts predict that Grail, Inc. will post -65.16 EPS for the current fiscal year.

Insider Activity at Grail

In related news, CFO Aaron Freidin sold 30,452 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 268,277 shares of the company’s stock, valued at approximately $3,761,243.54. This represents a 10.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Investors Weigh In On Grail

Institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new stake in Grail in the 4th quarter valued at $26,000. State of Tennessee Department of Treasury purchased a new stake in shares of Grail during the 4th quarter valued at $28,000. Lindbrook Capital LLC purchased a new stake in shares of Grail during the 4th quarter valued at $28,000. Sterling Capital Management LLC purchased a new stake in shares of Grail during the 4th quarter valued at $29,000. Finally, Wellington Shields Capital Management LLC purchased a new stake in shares of Grail during the 4th quarter valued at $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.