Grail (NASDAQ:GRAL) Stock Price Down 6.7% – Time to Sell?

Grail, Inc. (NASDAQ:GRAL) shares dropped 6.7% during trading on Tuesday . The stock traded as low as $30.26 and last traded at $29.95. Approximately 571,661 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 1,215,585 shares. The stock had previously closed at $32.09.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GRAL. Morgan Stanley started coverage on Grail in a report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 target price for the company. Wolfe Research assumed coverage on Grail in a research note on Friday, November 15th. They set a “peer perform” rating for the company.

Grail Stock Down 4.8 %

The company has a 50 day moving average of $30.91 and a 200-day moving average of $20.98.

Grail (NASDAQ:GRAL) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.86) EPS for the quarter, topping analysts’ consensus estimates of ($4.41) by $2.55. The business had revenue of $38.25 million during the quarter, compared to analysts’ expectations of $35.33 million. On average, analysts predict that Grail, Inc. will post -15.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Grail

Large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC purchased a new stake in Grail in the fourth quarter worth about $26,000. Lindbrook Capital LLC purchased a new position in shares of Grail in the 4th quarter valued at approximately $28,000. State of Tennessee Department of Treasury bought a new stake in shares of Grail during the fourth quarter valued at approximately $28,000. Sterling Capital Management LLC purchased a new stake in Grail in the fourth quarter worth $29,000. Finally, Wellington Shields Capital Management LLC purchased a new position in Grail during the fourth quarter valued at $33,000.

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.