GRAIL (NASDAQ:GRAL) Trading Down 6.1% - Here's Why

Key Points

• GRAIL, Inc. shares experienced a significant drop of 6.1% to $37.84, with trading volume down 85% compared to average levels, suggesting decreased market activity.
• Following a report, Canaccord Genuity raised GRAIL's target price from $32 to $43 and assigned a "buy" rating, indicating positive potential for the company's stock.
• Insiders, including President Joshua J. Ofman, sold a total of 540,890 shares over the past three months, which can imply a lack of confidence or a routine financial adjustment among company executives.

GRAIL, Inc. (NASDAQ:GRAL - Get Free Report)'s share price was down 6.1% on Monday . The company traded as low as $37.90 and last traded at $37.84. Approximately 212,222 shares changed hands during trading, a decline of 85% from the average daily volume of 1,410,656 shares. The stock had previously closed at $40.29.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group raised 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.

GRAIL Price Performance

The stock's 50 day simple moving average is $41.58 and its two-hundred day simple moving average is $35.36. The firm has a market cap of $1.18 billion and a P/E ratio of -0.54.

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

Insider Activity at GRAIL

In other GRAIL news, major shareholder Chun R. Ding sold 339,800 shares of GRAIL stock in a transaction that occurred on 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 sale, the insider owned 3,305,055 shares of the company's stock, valued at approximately $163,699,374.15. The trade was a 9.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Joshua J. Ofman sold 9,692 shares of GRAIL stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $52.00, for a total transaction of $503,984.00. Following the completion of the sale, the president directly owned 492,076 shares of the company's stock, 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. Insiders sold 357,492 shares of company stock valued at $17,645,718 over the last 90 days. Corporate insiders own 1.85% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GRAL. State of Tennessee Department of Treasury bought a new stake in GRAIL in the 4th quarter valued at $28,000. Caldwell Sutter Capital Inc. purchased a new stake in GRAIL in the 1st quarter worth about $28,000. Sterling Capital Management LLC purchased a new stake in GRAIL in the 4th quarter worth about $29,000. KBC Group NV grew its stake in GRAIL by 187.7% in the 1st quarter. KBC Group NV now owns 1,430 shares of the company's stock worth $37,000 after acquiring an additional 933 shares in the last quarter. Finally, S.A. Mason LLC grew its stake in GRAIL by 50.1% in 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 in the last quarter.

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.