Grail (NASDAQ:GRAL) Stock Price Down 4.7% - What's Next?

Grail, Inc. (NASDAQ:GRAL - Get Free Report) shares were down 4.7% on Thursday . The company traded as low as $41.79 and last traded at $41.79. Approximately 279,269 shares traded hands during trading, a decline of 78% from the average daily volume of 1,264,557 shares. The stock had previously closed at $43.87.

Analyst Upgrades and Downgrades

GRAL has been the subject of several analyst reports. Canaccord Genuity Group raised their price target on shares of Grail from $32.00 to $43.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Morgan Stanley increased their price objective on Grail from $16.00 to $20.00 and gave the company an "equal weight" rating in a report on Tuesday, March 18th.

Grail Price Performance

The stock has a 50-day moving average price of $34.66 and a 200-day moving average price of $29.84. The company has a market capitalization of $1.50 billion and a P/E ratio of -0.69.

Grail (NASDAQ:GRAL - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($3.10) earnings per share for the quarter, beating 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. Sell-side analysts anticipate that Grail, Inc. will post -15.15 EPS for the current fiscal year.

Insider Transactions at Grail

In related news, CFO Aaron Freidin sold 41,150 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $33.93, for a total transaction of $1,396,219.50. Following the completion of the sale, the chief financial officer now owns 294,020 shares of the company's stock, valued at $9,976,098.60. This trade represents a 12.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Robert P. Ragusa sold 94,035 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $33.93, for a total transaction of $3,190,607.55. Following the transaction, the chief executive officer now owns 734,627 shares in the company, valued at $24,925,894.11. The trade was a 11.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 183,398 shares of company stock worth $6,222,694 over the last three months. 1.85% of the stock is owned by company insiders.

Institutional Trading of Grail

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caldwell Sutter Capital Inc. bought a new stake in Grail during the 1st quarter worth approximately $28,000. KBC Group NV lifted its stake in Grail by 187.7% during the 1st quarter. KBC Group NV now owns 1,430 shares of the company's stock valued at $37,000 after acquiring an additional 933 shares in the last quarter. S.A. Mason LLC boosted its holdings in Grail by 50.1% during the 1st quarter. S.A. Mason LLC now owns 1,499 shares of the company's stock worth $38,000 after acquiring an additional 500 shares during the last quarter. State of Tennessee Department of Treasury bought a new stake in shares of Grail in the 4th quarter worth $28,000. Finally, Lindbrook Capital LLC purchased a new stake in shares of Grail in the fourth quarter valued at 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.