GRAIL, Inc. (NASDAQ:GRAL - Get Free Report) shares fell 8.1% during mid-day trading on Wednesday . The stock traded as low as $34.50 and last traded at $35.42. 641,805 shares changed 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 Analyst Weigh In
Several research firms recently weighed in on GRAL. Canaccord Genuity Group upped their price objective on shares of GRAIL from $32.00 to $43.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. Morgan Stanley boosted their price target on shares of GRAIL from $16.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 18th.
Read Our Latest Report on GRAIL
GRAIL Trading Down 4.9%
The company has a fifty day simple moving average of $41.78 and a 200-day simple moving average of $33.94. The stock has a market cap of $1.32 billion and a price-to-earnings ratio of -0.60.
GRAIL (NASDAQ:GRAL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($3.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.03) by $0.93. The firm had revenue of $31.84 million for the quarter, compared to the consensus estimate of $35.80 million. GRAIL had a negative return on equity of 17.99% and a negative net margin of 1,464.53%. As a group, analysts anticipate that GRAIL, Inc. will post -15.15 earnings per share 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 transaction, the chief financial officer owned 294,020 shares in the company, valued at $9,976,098.60. This represents a 12.28% 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 company's 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 completion of the transaction, the insider owned 3,305,055 shares in the company, valued at $163,699,374.15. This represents a 9.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 532,890 shares of company stock worth $23,556,972 over the last quarter.
Institutional Investors Weigh In On GRAIL
Several large investors have recently made changes to their positions in the company. Parallel Advisors LLC grew its stake in shares of GRAIL by 24.1% in the 2nd quarter. Parallel Advisors LLC now owns 2,313 shares of the company's stock valued at $119,000 after buying an additional 449 shares in the last quarter. S.A. Mason LLC grew its stake in shares of GRAIL by 50.1% in the 1st quarter. S.A. Mason LLC now owns 1,499 shares of the company's stock valued at $38,000 after buying an additional 500 shares in the last quarter. Crown Wealth Group LLC grew its stake in shares of GRAIL by 5.9% in the 2nd quarter. Crown Wealth Group LLC now owns 8,986 shares of the company's stock valued at $462,000 after buying an additional 500 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of GRAIL by 28.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,835 shares of the company's stock valued at $76,000 after buying an additional 623 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of GRAIL by 5.7% in the 1st quarter. HighTower Advisors LLC now owns 11,591 shares of the company's stock valued at $296,000 after buying an additional 627 shares in the last quarter.
About GRAIL
(
Get Free Report)
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.
Further Reading
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