GRAIL (NASDAQ:GRAL) Shares Down 3.2% After Insider Selling

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report)'s share price traded down 3.2% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $45.41 and last traded at $46.04. 409,178 shares changed hands during trading, a decline of 66% from the average session volume of 1,195,767 shares. The stock had previously closed at $47.56.

Specifically, major shareholder Chun R. Ding sold 339,800 shares of GRAIL stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $49.53, for a total value of $16,830,294.00. Following the sale, the insider owned 3,305,055 shares in the company, valued at $163,699,374.15. This trade represents a 9.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Joshua J. Ofman sold 9,692 shares of GRAIL stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $52.00, for a total transaction of $503,984.00. Following the completion of the sale, the president owned 492,076 shares in the company, valued at approximately $25,587,952. This trade represents a 1.93% decrease in their position. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Morgan Stanley lifted their target price 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. Canaccord Genuity Group boosted their price target on shares of GRAIL from $32.00 to $43.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th.

GRAIL Stock Down 1.6%

The stock has a market capitalization of $1.68 billion and a price-to-earnings ratio of -0.77. The business's 50-day moving average is $40.79 and its two-hundred day moving average is $32.93.

GRAIL (NASDAQ:GRAL - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($3.10) earnings per share for the quarter, topping analysts' consensus estimates of ($4.03) by $0.93. The firm had revenue of $31.84 million for the quarter, compared to analyst estimates of $35.80 million. GRAIL had a negative net margin of 1,464.53% and a negative return on equity of 17.99%. As a group, analysts forecast that GRAIL, Inc. will post -15.15 EPS for the current fiscal year.

Hedge Funds Weigh In On GRAIL

Institutional investors have recently bought and sold shares of the company. Caldwell Sutter Capital Inc. purchased a new position in GRAIL during the first quarter worth about $28,000. KBC Group NV raised its stake in GRAIL by 187.7% during the first quarter. KBC Group NV now owns 1,430 shares of the company's stock worth $37,000 after purchasing an additional 933 shares during the period. S.A. Mason LLC raised its stake in GRAIL by 50.1% during the first quarter. S.A. Mason LLC now owns 1,499 shares of the company's stock worth $38,000 after purchasing an additional 500 shares during the period. State of Tennessee Department of Treasury purchased a new position in GRAIL during the fourth quarter worth about $28,000. Finally, Lindbrook Capital LLC purchased a new position in GRAIL during the fourth quarter worth about $28,000.

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.