Grail, Inc. (NASDAQ:GRAL) Sees Significant Decrease in Short Interest

Grail, Inc. (NASDAQ:GRAL) saw a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 3,640,000 shares, a drop of 21.6% from the February 13th total of 4,640,000 shares. Currently, 13.2% of the shares of the company are short sold. Based on an average daily volume of 1,430,000 shares, the days-to-cover ratio is currently 2.5 days.

Grail Stock Down 2.1 %

Shares of GRAL stock traded down $0.61 on Monday, hitting $29.13. 795,558 shares of the stock traded hands, compared to its average volume of 1,225,506. Grail has a 52 week low of $12.33 and a 52 week high of $63.99. The firm has a 50 day simple moving average of $31.81 and a two-hundred day simple moving average of $21.39.

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

Insider Buying and Selling

In other news, CEO Robert P. Ragusa sold 7,625 shares of Grail stock in a transaction on Friday, March 7th. The shares were sold at an average price of $31.21, for a total transaction of $237,976.25. Following the transaction, the chief executive officer now owns 828,662 shares in the company, valued at $25,862,541.02. This trade represents a 0.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Aaron Freidin sold 1,816 shares of Grail stock in a transaction on Friday, March 7th. The stock was sold at an average price of $31.20, for a total transaction of $56,659.20. Following the transaction, the chief financial officer now owns 335,170 shares in the company, valued at $10,457,304. This represents a 0.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,550 shares of company stock worth $360,436.

Institutional Trading of Grail

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

Analyst Upgrades and Downgrades

Separately, Morgan Stanley started 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 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.