Grail, Inc. (NASDAQ:GRAL) Short Interest Up 15.9% in November

Grail, Inc. (NASDAQ:GRAL) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 4,380,000 shares, a growth of 15.9% from the November 15th total of 3,780,000 shares. Approximately 15.4% of the shares of the stock are sold short. Based on an average daily volume of 726,200 shares, the days-to-cover ratio is presently 6.0 days.

Insider Buying and Selling

In other news, major shareholder Chun R. Ding bought 35,000 shares of Grail stock in a transaction on Thursday, October 3rd. The stock was acquired at an average price of $12.71 per share, with a total value of $444,850.00. Following the completion of the acquisition, the insider now directly owns 3,558,655 shares of the company’s stock, valued at $45,230,505.05. The trade was a 0.99 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Aaron Freidin sold 30,452 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $14.02, for a total value of $426,937.04. Following the transaction, the chief financial officer now directly owns 268,277 shares of the company’s stock, valued at $3,761,243.54. The trade was a 10.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 58,829 shares of company stock valued at $757,298.

Grail Price Performance

NASDAQ GRAL traded up $0.69 during trading on Monday, reaching $22.85. 847,192 shares of the company’s stock were exchanged, compared to its average volume of 1,063,016. The stock has a 50 day simple moving average of $15.86. Grail has a 1 year low of $12.33 and a 1 year high of $23.78.

Analyst Ratings Changes

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

About Grail

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.