Grail (NASDAQ:GRAL) Shares Down 6.6% – Time to Sell?

Grail, Inc. (NASDAQ:GRAL) shares traded down 6.6% on Monday . The stock traded as low as $27.66 and last traded at $28.28. 214,893 shares traded hands during trading, a decline of 80% from the average session volume of 1,050,701 shares. The stock had previously closed at $30.28.

Analyst Upgrades and Downgrades

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

Grail Stock Performance

The firm’s 50-day simple moving average is $20.78 and its 200-day simple moving average is $16.81.

Grail (NASDAQ:GRAL) last released its earnings results on Tuesday, November 12th. The company reported ($3.94) EPS for the quarter. The company had revenue of $28.65 million during the quarter. On average, equities research analysts anticipate that Grail, Inc. will post -65.16 EPS for the current year.

Insiders Place Their Bets

In other Grail news, CFO Aaron Freidin sold 30,452 shares of Grail stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $14.02, for a total value of $426,937.04. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Investors Weigh In On Grail

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GRAL. US Bancorp DE purchased a new stake in Grail in the fourth quarter worth about $133,000. Oppenheimer & Co. Inc. bought a new stake in shares of Grail during the fourth quarter valued at approximately $190,000. Nwam LLC purchased a new stake in Grail in the fourth quarter worth $195,000. Bank of New York Mellon Corp bought a new position in Grail in the fourth quarter worth $6,262,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Grail during the fourth quarter valued at $500,000.

About Grail

GRAIL, Inc is a healthcare company. It engages in the development of a technology for early detection of cancer. The company was founded by Jeffrey T. Huber, William H. Rastetter, and Mostafa Ronaghi on September 11, 2015 and is headquartered in Menlo Park, CA.