Grail (NASDAQ:GRAL) Shares Gap Down – What’s Next?

Grail, Inc. (NASDAQ:GRAL) gapped down before the market opened on Friday . The stock had previously closed at $52.58, but opened at $50.30. Grail shares last traded at $53.61, with a volume of 693,256 shares trading hands.

Wall Street Analyst Weigh In

GRAL has been the subject of a number of recent research reports. Morgan Stanley started coverage on shares of Grail in a report on Wednesday, November 27th. They issued an “equal weight” rating and a $16.00 price objective for the company. Wolfe Research began coverage on Grail in a research report on Friday, November 15th. They set a “peer perform” rating on the stock.

Grail Stock Performance

The business’s 50 day simple moving average is $23.94 and its 200 day simple moving average is $18.11.

Insider Activity

In other news, CFO Aaron Freidin sold 30,452 shares of the company’s stock in a transaction 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 owns 268,277 shares of the company’s stock, valued at $3,761,243.54. This represents a 10.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Trading of Grail

Several institutional investors and hedge funds have recently bought and sold shares of GRAL. Freestone Grove Partners LP purchased a new position in Grail during the fourth quarter worth about $217,000. Schonfeld Strategic Advisors LLC acquired a new stake in Grail in the 4th quarter valued at approximately $1,026,000. AQR Capital Management LLC purchased a new stake in Grail in the fourth quarter valued at approximately $14,828,000. Northern Trust Corp acquired a new stake in shares of Grail in the fourth quarter valued at $2,605,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of Grail in the 4th quarter valued at $3,770,000.

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.