Grail (NASDAQ:GRAL) Shares Down 5.8% - Here's What Happened

Grail, Inc. (NASDAQ:GRAL - Get Free Report)'s stock price fell 5.8% during mid-day trading on Tuesday . The stock traded as low as $35.91 and last traded at $34.75. 163,918 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,220,041 shares. The stock had previously closed at $36.90.

Analysts Set New Price Targets

A number of research firms recently commented on GRAL. Canaccord Genuity Group assumed coverage on Grail in a research report on Monday, April 21st. They set a "buy" rating and a $32.00 price objective for the company. Morgan Stanley increased their price target on Grail from $16.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 18th.

Grail Stock Down 3.3 %

The firm has a 50 day moving average price of $30.83 and a two-hundred day moving average price of $24.58.

Grail (NASDAQ:GRAL - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported ($1.86) EPS for the quarter, beating the consensus estimate of ($4.41) by $2.55. The company had revenue of $38.25 million for the quarter, compared to analysts' expectations of $35.33 million. Sell-side analysts anticipate that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Robert P. Ragusa sold 7,625 shares of Grail 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 owns 828,662 shares in the company, valued at approximately $25,862,541.02. The trade was a 0.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aaron Freidin sold 1,816 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $31.20, for a total transaction of $56,659.20. Following the completion of the sale, the chief financial officer now owns 335,170 shares in the company, valued at approximately $10,457,304. This trade represents a 0.54 % 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 in the last quarter.

Hedge Funds Weigh In On Grail

A number of hedge funds have recently added to or reduced their stakes in the business. Douglas Lane & Associates LLC acquired a new position in shares of Grail in the 4th quarter valued at about $3,034,000. A. D. Beadell Investment Counsel Inc. bought a new stake in Grail in the fourth quarter valued at $430,000. FNY Investment Advisers LLC acquired a new position in shares of Grail during the fourth quarter valued at $26,000. 180 Wealth Advisors LLC acquired a new stake in shares of Grail in the 4th quarter worth about $1,681,000. Finally, B & T Capital Management DBA Alpha Capital Management bought a new stake in Grail in the 4th quarter valued at about $387,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.