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

Grail, Inc. (NASDAQ:GRAL) gapped down prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Morgan Stanley started coverage on Grail in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 target price on the stock. Wolfe Research started coverage on Grail in a research report on Friday, November 15th. They issued a “peer perform” rating for the company.

Grail Stock Up 17.0 %

The company’s fifty day simple moving average is $29.25 and its 200-day simple moving average is $20.31.

Grail (NASDAQ:GRAL) last posted its earnings results 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 business had revenue of $38.25 million during the quarter, compared to the consensus estimate of $35.33 million. On average, equities research analysts forecast that Grail, Inc. will post -15.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Grail

Hedge funds have recently modified their holdings of the stock. Ameriflex Group Inc. acquired a new stake in Grail in the 4th quarter valued at $95,000. PVG Asset Management Corp bought a new position in shares of Grail during the fourth quarter valued at $398,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Grail in the 4th quarter valued at $334,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Grail in the 4th quarter worth about $1,201,000. Finally, Westwood Holdings Group Inc. acquired a new stake in shares of Grail during the 4th quarter worth about $1,389,000.

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.