Grail (NASDAQ:GRAL) Shares Gap Down – Should You Sell?

Grail, Inc. (NASDAQ:GRAL)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $42.89, but opened at $37.40. Grail shares last traded at $34.12, with a volume of 1,462,505 shares traded.

Wall Street Analyst Weigh In

GRAL has been the topic of a number of research reports. Morgan Stanley raised 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. Canaccord Genuity Group raised their price target on Grail from $32.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday.

Grail Stock Up 18.5%

The company has a market capitalization of $1.38 billion and a price-to-earnings ratio of -0.64. The stock has a fifty day moving average price of $29.83 and a two-hundred day moving average price of $26.38.

Grail (NASDAQ:GRAL) last released its earnings results on Tuesday, May 13th. The company reported ($3.10) EPS for the quarter, beating the consensus estimate of ($4.03) by $0.93. The business had revenue of $31.84 million during the quarter, compared to analyst estimates of $35.80 million. As a group, research analysts forecast that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Insider Activity at Grail

In other Grail news, President Joshua J. Ofman sold 2,109 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.20, for a total transaction of $65,800.80. Following the sale, the president now owns 559,673 shares in the company, valued at $17,461,797.60. This represents a 0.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Aaron Freidin sold 41,150 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $33.93, for a total value of $1,396,219.50. Following the sale, the chief financial officer now owns 294,020 shares in the company, valued at $9,976,098.60. The trade was a 12.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 194,948 shares of company stock valued at $6,583,130. Insiders own 1.85% of the company’s stock.

Institutional Trading of Grail

A number of institutional investors and hedge funds have recently made changes to their positions in GRAL. Caldwell Sutter Capital Inc. acquired a new stake in Grail in the 1st quarter valued at approximately $28,000. KBC Group NV increased its position in shares of Grail by 187.7% during the 1st 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. S.A. Mason LLC increased its position in shares of Grail by 50.1% during the 1st quarter. S.A. Mason LLC now owns 1,499 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Grail during the 4th quarter valued at $26,000. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Grail during the 4th quarter valued at $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.