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

Grail, Inc. (NASDAQ:GRAL) shares 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 Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Morgan Stanley raised their price objective 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 objective on Grail from $32.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday.

Grail Price Performance

The business has a 50 day moving average price of $29.83 and a 200 day moving average price of $26.38. The firm has a market capitalization of $1.38 billion and a P/E ratio of -0.64.

Grail (NASDAQ:GRAL) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($3.10) EPS for the quarter, topping analysts’ consensus estimates of ($4.03) by $0.93. The business had revenue of $31.84 million during the quarter, compared to the consensus estimate of $35.80 million. As a group, equities analysts expect that Grail, Inc. will post -15.15 EPS for the current year.

Insider Buying and Selling at Grail

In other news, CEO Robert P. Ragusa sold 94,035 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $33.93, for a total value of $3,190,607.55. Following the transaction, the chief executive officer now directly owns 734,627 shares of the company’s stock, valued at $24,925,894.11. The trade was a 11.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Joshua J. Ofman sold 2,109 shares of the business’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 value of $65,800.80. Following the completion of the transaction, the president now directly owns 559,673 shares in the company, valued at $17,461,797.60. The trade was a 0.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 194,948 shares of company stock valued at $6,583,130. 1.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new stake in shares of Grail during the 4th quarter valued at $26,000. B & T Capital Management DBA Alpha Capital Management bought a new stake in shares of Grail in the 4th quarter valued at $387,000. Wesbanco Bank Inc. bought a new stake in shares of Grail in the 4th quarter valued at $523,000. Exchange Traded Concepts LLC bought a new stake in shares of Grail in the 4th quarter valued at $507,000. Finally, Slow Capital Inc. bought a new stake in shares of Grail in the 4th quarter valued at $2,379,000.

Grail Company Profile

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.