Grail (NASDAQ:GRAL) Trading Down 7% - What's Next?

Grail, Inc. (NASDAQ:GRAL - Get Free Report)'s stock price traded down 7% during mid-day trading on Wednesday . The company traded as low as $38.55 and last traded at $39.40. 314,360 shares were traded during trading, a decline of 75% from the average session volume of 1,253,409 shares. The stock had previously closed at $42.34.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Canaccord Genuity Group boosted their price objective on Grail from $32.00 to $43.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Morgan Stanley lifted their price target on Grail from $16.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 18th.

Grail Stock Performance

The company has a market cap of $1.43 billion and a P/E ratio of -0.65. The business has a 50 day moving average price of $31.53 and a two-hundred day moving average price of $27.89.

Grail (NASDAQ:GRAL - Get Free Report) last announced 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. The company had revenue of $31.84 million during the quarter, compared to the consensus estimate of $35.80 million. As a group, research analysts expect that Grail, Inc. will post -15.15 EPS for the current year.

Insider Buying and Selling

In related news, CFO Aaron Freidin sold 1,816 shares of Grail stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.20, for a total value of $56,659.20. Following the completion of the transaction, the chief financial officer now owns 335,170 shares in the company, valued at approximately $10,457,304. This trade represents a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert P. Ragusa sold 7,625 shares of Grail stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $31.21, for a total value of $237,976.25. Following the completion of the transaction, the chief executive officer now owns 828,662 shares of the company's stock, valued at approximately $25,862,541.02. This represents a 0.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,948 shares of company stock worth $6,583,130. Insiders own 1.85% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. S.A. Mason LLC grew its position in Grail by 50.1% in the first 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Grail by 28.2% during the first 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 during the period. HighTower Advisors LLC boosted its position in shares of Grail by 5.7% during the first quarter. HighTower Advisors LLC now owns 11,591 shares of the company's stock valued at $296,000 after buying an additional 627 shares during the period. KBC Group NV boosted its holdings in shares of Grail by 187.7% in 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. Finally, Caldwell Sutter Capital Inc. purchased a new stake in shares of Grail in the first 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.

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