Grail (NASDAQ:GRAL) Shares Gap Down – Here’s Why

Grail, Inc. (NASDAQ:GRAL)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $36.33, but opened at $34.52. Grail shares last traded at $37.45, with a volume of 326,979 shares changing hands.

Wall Street Analyst Weigh In

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

Grail Price Performance

The business has a 50-day simple moving average of $29.25 and a two-hundred day simple moving average of $20.31.

Grail (NASDAQ:GRAL) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.86) earnings per share for the quarter, beating analysts’ consensus estimates of ($4.41) by $2.55. The company had revenue of $38.25 million during the quarter, compared to the consensus estimate of $35.33 million. Sell-side analysts expect that Grail, Inc. will post -15.15 EPS for the current fiscal year.

Institutional Trading of Grail

A number of institutional investors and hedge funds have recently modified their holdings of GRAL. Crcm LP bought a new position in Grail in the 4th quarter worth $65,061,000. Sessa Capital IM L.P. acquired a new stake in shares of Grail in the fourth quarter valued at about $53,550,000. Primecap Management Co. CA acquired a new stake in shares of Grail in the fourth quarter valued at about $37,118,000. Baker BROS. Advisors LP bought a new position in shares of Grail in the fourth quarter worth about $29,098,000. Finally, Vanguard Group Inc. acquired a new position in shares of Grail during the 4th quarter worth about $25,902,000.

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.