Grail (NASDAQ:GRAL) Stock Price Down 4.4% – Here’s What Happened

Grail, Inc. (NASDAQ:GRAL) shares traded down 4.4% during mid-day trading on Thursday . The stock traded as low as $16.78 and last traded at $16.80. 206,992 shares were traded during mid-day trading, a decline of 68% from the average session volume of 640,543 shares. The stock had previously closed at $17.58.

Analyst Ratings Changes

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

Grail Stock Performance

The stock has a 50-day moving average of $18.32.

Insider Activity at Grail

In other news, CFO Aaron Freidin sold 30,452 shares of Grail stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $14.02, for a total transaction of $426,937.04. Following the sale, the chief financial officer now owns 268,277 shares in the company, valued at $3,761,243.54. This trade represents a 10.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On Grail

A number of large investors have recently added to or reduced their stakes in GRAL. Douglas Lane & Associates LLC acquired a new position in Grail in the 4th quarter worth $3,034,000. 180 Wealth Advisors LLC purchased a new stake in shares of Grail during the fourth quarter worth about $1,681,000. Wesbanco Bank Inc. acquired a new position in shares of Grail in the fourth quarter worth about $523,000. A. D. Beadell Investment Counsel Inc. purchased a new position in Grail in the fourth quarter valued at about $430,000. Finally, B & T Capital Management DBA Alpha Capital Management acquired a new stake in Grail during the 4th quarter valued at approximately $387,000.

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.