Short Interest in Grail, Inc. (NASDAQ:GRAL) Increases By 7.1%

Grail, Inc. (NASDAQ:GRAL) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 3,780,000 shares, an increase of 7.1% from the October 31st total of 3,530,000 shares. Based on an average daily volume of 743,000 shares, the short-interest ratio is presently 5.1 days. Approximately 14.4% of the company’s stock are short sold.

Analyst Ratings Changes

A number of research firms have recently issued reports on GRAL. Morgan Stanley assumed coverage on Grail in a research note on Wednesday, November 27th. They issued an “equal weight” rating and a $16.00 price target on the stock. Wolfe Research initiated coverage on Grail in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Guggenheim initiated coverage on Grail in a report on Thursday, October 17th. They set a “neutral” rating on the stock.

Insider Buying and Selling

In related news, CFO Aaron Freidin sold 30,452 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $14.02, for a total transaction of $426,937.04. Following the completion of the transaction, the chief financial officer now directly owns 268,277 shares of the company’s stock, valued at $3,761,243.54. This trade represents a 10.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Chun R. Ding acquired 7,629 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were bought at an average price of $13.52 per share, for a total transaction of $103,144.08. Following the completion of the purchase, the insider now owns 3,503,655 shares in the company, valued at approximately $47,369,415.60. This represents a 0.22 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 58,829 shares of company stock worth $757,298.

Grail Stock Up 7.0 %

NASDAQ:GRAL opened at $18.73 on Tuesday. Grail has a 12-month low of $12.33 and a 12-month high of $23.36. The firm’s 50 day moving average is $14.48.

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.