Grail (NASDAQ:GRAL) Trading Down 6.6% – Here’s Why

Grail, Inc. (NASDAQ:GRAL) traded down 6.6% on Monday . The company traded as low as $27.66 and last traded at $28.28. 214,893 shares changed hands during trading, a decline of 80% from the average session volume of 1,050,701 shares. The stock had previously closed at $30.28.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Morgan Stanley assumed coverage on Grail in a report on Wednesday, November 27th. They issued an “equal weight” rating and a $16.00 price objective for the company. Guggenheim started 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 shares of Grail in a research report on Friday, November 15th. They set a “peer perform” rating for the company.

Grail Price Performance

The firm has a 50-day moving average of $20.34 and a 200-day moving average of $16.64.

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

Insiders Place Their Bets

In related news, CFO Aaron Freidin sold 30,452 shares of Grail stock in a transaction dated 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 transaction, the chief financial officer now owns 268,277 shares in the company, valued at $3,761,243.54. The trade was a 10.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Grail

Several institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in Grail during the 4th quarter worth $26,000. New York State Common Retirement Fund acquired a new position in Grail during the fourth quarter worth about $59,000. Wilmington Savings Fund Society FSB purchased a new stake in Grail during the 4th quarter valued at about $64,000. Manchester Capital Management LLC acquired a new stake in Grail in the 4th quarter valued at about $123,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in Grail in the 4th quarter worth approximately $127,000.

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.