GRAIL (NASDAQ:GRAL) Stock Price Down 8.1% - Should You Sell?

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report)'s stock price fell 8.1% during mid-day trading on Wednesday . The company traded as low as $34.50 and last traded at $35.42. 641,805 shares traded hands during trading, a decline of 46% from the average session volume of 1,178,355 shares. The stock had previously closed at $38.53.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group boosted their price target on GRAIL from $32.00 to $43.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th.

GRAIL Stock Down 2.0%

The company has a fifty day simple moving average of $41.81 and a 200-day simple moving average of $34.20. The firm has a market cap of $1.27 billion and a P/E ratio of -0.58.

GRAIL (NASDAQ:GRAL - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($3.10) earnings per share (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 during the quarter, compared to analyst estimates of $35.80 million. As a group, research analysts forecast that GRAIL, Inc. will post -15.15 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Aaron Freidin sold 41,150 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $33.93, for a total value of $1,396,219.50. Following the completion of the transaction, the chief financial officer owned 294,020 shares of the company's stock, valued at $9,976,098.60. This represents a 12.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert P. Ragusa sold 94,035 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $33.93, for a total value of $3,190,607.55. Following the completion of the transaction, the chief executive officer directly owned 734,627 shares of the company's stock, valued at approximately $24,925,894.11. This trade represents a 11.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 540,890 shares of company stock worth $23,868,412. 1.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On GRAIL

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in shares of GRAIL by 768.1% in the second quarter. Farther Finance Advisors LLC now owns 816 shares of the company's stock worth $42,000 after buying an additional 722 shares in the last quarter. Caldwell Sutter Capital Inc. purchased a new stake in GRAIL during the first quarter valued at approximately $28,000. KBC Group NV raised its position in GRAIL by 187.7% during the first quarter. KBC Group NV now owns 1,430 shares of the company's stock valued at $37,000 after purchasing an additional 933 shares during the period. S.A. Mason LLC raised its position in GRAIL by 50.1% during the first quarter. S.A. Mason LLC now owns 1,499 shares of the company's stock valued at $38,000 after purchasing an additional 500 shares during the period. Finally, State of Tennessee Department of Treasury purchased a new stake in GRAIL during the fourth quarter valued at approximately $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.