GRAIL (NASDAQ:GRAL) Shares Down 3.2% - Time to Sell?

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report)'s share price dropped 3.2% during trading on Thursday . The stock traded as low as $45.41 and last traded at $46.04. Approximately 409,178 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 1,195,767 shares. The stock had previously closed at $47.56.

Analyst Ratings Changes

GRAL has been the subject of several analyst reports. Canaccord Genuity Group raised their price target on GRAIL from $32.00 to $43.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Morgan Stanley increased their price objective on shares of 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 company has a market cap of $1.68 billion and a P/E ratio of -0.77. The company's 50-day moving average is $40.59 and its two-hundred day moving average is $32.56.

GRAIL (NASDAQ:GRAL - Get Free Report) last issued its earnings results on Tuesday, May 13th. The company reported ($3.10) EPS for the quarter, beating the consensus estimate of ($4.03) by $0.93. GRAIL had a negative return on equity of 17.99% and a negative net margin of 1,464.53%. The business had revenue of $31.84 million for the quarter, compared to the consensus estimate of $35.80 million. Equities research analysts anticipate that GRAIL, Inc. will post -15.15 EPS for the current year.

Insider Transactions at GRAIL

In other news, CEO Robert P. Ragusa sold 94,035 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $33.93, for a total value of $3,190,607.55. Following the transaction, the chief executive officer owned 734,627 shares in the company, valued at $24,925,894.11. This represents a 11.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Chun R. Ding sold 339,800 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $49.53, for a total transaction of $16,830,294.00. Following the completion of the transaction, the insider owned 3,305,055 shares in the company, valued at $163,699,374.15. The trade was a 9.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 532,890 shares of company stock valued at $23,556,972. Corporate insiders own 1.85% of the company's stock.

Hedge Funds Weigh In On GRAIL

Large investors have recently added to or reduced their stakes in the company. Crcm LP purchased a new stake in GRAIL during the 4th quarter valued at approximately $65,061,000. Sessa Capital IM L.P. bought a new position in shares of GRAIL during the fourth quarter worth $53,550,000. Primecap Management Co. CA purchased a new position in GRAIL during the fourth quarter valued at $37,118,000. Baker BROS. Advisors LP bought a new stake in GRAIL in the 4th quarter valued at $29,098,000. Finally, Vanguard Group Inc. increased its holdings in GRAIL by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 1,499,740 shares of the company's stock valued at $38,303,000 after acquiring an additional 48,645 shares during the last quarter.

About GRAIL

GRAIL, Inc operates as a commercial-stage healthcare company, which engages in the development of a technology for early detection of cancer. It utilizes machine learning, software, and automation to detect and identify multiple deadly cancer types in earlier stages. The company was founded by Jeffrey T.