GRAIL (NASDAQ:GRAL) Stock Price Down 6.2% - Here's What Happened

Shares of GRAIL, Inc. (NASDAQ:GRAL - Get Free Report) traded down 6.2% on Friday . The company traded as low as $45.60 and last traded at $45.44. 721,583 shares were traded during trading, a decline of 43% from the average session volume of 1,262,627 shares. The stock had previously closed at $48.44.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. 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 report on Wednesday, May 14th. Morgan Stanley lifted their price objective on shares of GRAIL from $16.00 to $20.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 18th.

GRAIL Trading Down 6.8%

The stock has a 50-day moving average price of $36.81 and a 200 day moving average price of $30.77. The stock has a market capitalization of $1.62 billion and a price-to-earnings ratio of -0.74.

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

Insider Buying and Selling

In other GRAIL news, CEO Robert P. Ragusa sold 94,035 shares of the business's stock in a transaction dated 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 now directly owns 734,627 shares in the company, valued at $24,925,894.11. The trade was a 11.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Aaron Freidin sold 41,150 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 294,020 shares of the company's stock, valued at approximately $9,976,098.60. This trade represents a 12.28% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,398 shares of company stock worth $6,222,694. 1.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GRAIL

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GRAL. Rhumbline Advisers purchased a new stake in GRAIL in the fourth quarter valued at approximately $456,000. Wells Fargo & Company MN acquired a new stake in GRAIL in the fourth quarter valued at $90,000. Alliancebernstein L.P. purchased a new position in GRAIL during the 4th quarter valued at about $250,000. Commonwealth Equity Services LLC acquired a new position in shares of GRAIL during the 4th quarter worth approximately $3,278,000. Finally, Deutsche Bank AG purchased a new position in GRAIL during the fourth quarter worth $1,001,000.

GRAIL Company Profile

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.

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