Grail (NASDAQ:GRAL) Shares Down 11.1% – Here’s Why

Grail, Inc. (NASDAQ:GRAL)’s share price fell 11.1% during mid-day trading on Wednesday . The company traded as low as $20.78 and last traded at $21.00. 660,289 shares were traded during mid-day trading, a decline of 38% from the average session volume of 1,059,131 shares. The stock had previously closed at $23.62.

Analyst Ratings Changes

Several equities analysts recently commented on GRAL shares. Morgan Stanley initiated coverage on shares of Grail in a research note on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 price objective for the company. Wolfe Research initiated coverage on shares of Grail in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Finally, Guggenheim began coverage on Grail in a report on Thursday, October 17th. They set a “neutral” rating on the stock.

Grail Stock Down 16.0 %

The stock has a fifty day simple moving average of $16.27.

Insider Buying and Selling

In other Grail news, major shareholder Chun R. Ding bought 7,629 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were purchased at an average cost of $13.52 per share, for a total transaction of $103,144.08. Following the transaction, the insider now owns 3,503,655 shares of the company’s stock, valued at $47,369,415.60. This represents a 0.22 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Aaron Freidin sold 30,452 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $14.02, for a total value of $426,937.04. Following the transaction, the chief financial officer now owns 268,277 shares of the company’s stock, valued at approximately $3,761,243.54. The trade was a 10.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders bought 58,829 shares of company stock valued at $757,298.

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.