Grail (NASDAQ:GRAL) Trading Down 6.6% – What’s Next?

Shares of Grail, Inc. (NASDAQ:GRAL) traded down 6.6% during trading on Friday . The stock traded as low as $42.00 and last traded at $44.60. 558,219 shares were traded during mid-day trading, a decline of 61% from the average session volume of 1,429,129 shares. The stock had previously closed at $47.76.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wolfe Research assumed coverage on shares of Grail in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Morgan Stanley assumed coverage on shares of Grail in a research note on Wednesday, November 27th. They issued an “equal weight” rating and a $16.00 target price for the company.

Grail Stock Down 14.7 %

The firm’s 50 day moving average is $26.69 and its 200-day moving average is $19.22.

Grail (NASDAQ:GRAL) last posted its earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share (EPS) for the quarter, beating the consensus estimate of ($4.41) by $2.55. The firm had revenue of $38.25 million during the quarter, compared to analyst estimates of $35.33 million. Research analysts anticipate that Grail, Inc. will post -15.15 earnings per share for the current year.

Hedge Funds Weigh In On Grail

A number of large investors have recently added to or reduced their stakes in GRAL. FNY Investment Advisers LLC acquired a new position in Grail during the fourth quarter worth $26,000. Lindbrook Capital LLC acquired a new position in Grail during the fourth quarter worth $28,000. State of Tennessee Department of Treasury acquired a new position in Grail during the fourth quarter worth $28,000. Sterling Capital Management LLC acquired a new position in Grail during the fourth quarter worth $29,000. Finally, Wellington Shields Capital Management LLC acquired a new position in Grail during the fourth quarter worth $33,000.

Grail Company Profile

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.