Grail (NASDAQ:GRAL) Shares Down 7.4% – Here’s Why

Grail, Inc. (NASDAQ:GRAL)’s share price traded down 7.4% during mid-day trading on Tuesday . The company traded as low as $18.14 and last traded at $18.21. 127,209 shares traded hands during trading, a decline of 67% from the average session volume of 383,007 shares. The stock had previously closed at $19.67.

Analyst Ratings Changes

GRAL has been the subject of several recent analyst reports. Wolfe Research initiated coverage on shares of Grail in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Guggenheim assumed coverage on Grail in a research report on Thursday, October 17th. They issued a “neutral” rating on the stock. Finally, Morgan Stanley began coverage on Grail in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price target for the company.

Grail Stock Performance

The company has a 50-day moving average price of $17.62.

Insider Buying and Selling

In other Grail news, major shareholder Chun R. Ding purchased 16,200 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were purchased at an average cost of $12.92 per share, for a total transaction of $209,304.00. Following the completion of the transaction, the insider now owns 3,644,855 shares in the company, valued at $47,091,526.60. The trade was a 0.45 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aaron Freidin sold 30,452 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $14.02, for a total transaction of $426,937.04. Following the completion of the sale, the chief financial officer now directly owns 268,277 shares of the company’s stock, valued at $3,761,243.54. The trade was a 10.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Grail Company Profile

GRAIL, Inc, a biotechnology company, focuses on developing technologies for early cancer detection. The company develops Galleri, a screening test for asymptomatic individuals over 50 years of age; and DAC, a diagnostic aid for cancer tests to accelerate diagnostic resolution for patients for whom there is a clinical suspicion of cancer.