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

Grail, Inc. (NASDAQ:GRAL) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 3,530,000 shares, an increase of 6.6% from the October 15th total of 3,310,000 shares. Approximately 13.5% of the shares of the stock are short sold. Based on an average daily volume of 750,800 shares, the short-interest ratio is currently 4.7 days.

Grail Price Performance

NASDAQ:GRAL traded up $0.49 during mid-day trading on Tuesday, hitting $14.49. The company had a trading volume of 152,820 shares, compared to its average volume of 1,088,150. Grail has a 1 year low of $12.33 and a 1 year high of $23.36. The business has a fifty day simple moving average of $13.84.

Analysts Set New Price Targets

Several research firms recently issued reports on GRAL. Wolfe Research started coverage on shares of Grail in a research report on Friday. They issued a “peer perform” rating on the stock. Guggenheim began coverage on Grail in a report on Thursday, October 17th. They set a “neutral” rating for the company.

Insider Transactions at Grail

In other news, major shareholder Chun R. Ding bought 35,000 shares of Grail stock in a transaction on Thursday, October 3rd. The shares were bought at an average cost of $12.71 per share, for a total transaction of $444,850.00. Following the acquisition, the insider now owns 3,558,655 shares in the company, valued at approximately $45,230,505.05. This trade represents a 0.99 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Robert P. Ragusa sold 123,454 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $14.02, for a total transaction of $1,730,825.08. Following the transaction, the chief executive officer now directly owns 612,661 shares in the company, valued at $8,589,507.22. The trade was a 16.77 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 58,829 shares of company stock valued at $757,298 in the last ninety days.

Grail Company Profile

GRAIL, Inc, a biotechnology company, focuses on developing technologies for early cancer detection. The company develops Galleri, a screening test for asymptomatic individuals over 50 years of age; and DAC, a diagnostic aid for cancer tests to accelerate diagnostic resolution for patients for whom there is a clinical suspicion of cancer.