Grail, Inc. (NASDAQ:GRAL) Short Interest Update

Grail, Inc. (NASDAQ:GRAL) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 4,900,000 shares, a growth of 11.9% from the November 30th total of 4,380,000 shares. Based on an average daily volume of 800,300 shares, the short-interest ratio is currently 6.1 days. Currently, 17.0% of the company’s stock are sold short.

Grail Stock Performance

NASDAQ:GRAL traded down $0.79 during mid-day trading on Wednesday, hitting $17.85. The stock had a trading volume of 728,612 shares, compared to its average volume of 1,077,587. The stock has a 50 day simple moving average of $17.25. Grail has a twelve month low of $12.33 and a twelve month high of $24.92.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley initiated 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 for the company. Wolfe Research began coverage on Grail in a report on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Guggenheim assumed coverage on Grail in a research report on Thursday, October 17th. They set a “neutral” rating on the stock.

Insider Activity

In other news, major shareholder Chun R. Ding bought 16,200 shares of the stock in a transaction on Wednesday, October 9th. The stock was purchased at an average price of $12.92 per share, for a total transaction of $209,304.00. Following the acquisition, the insider now owns 3,644,855 shares in the company, valued at approximately $47,091,526.60. This trade represents a 0.45 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Aaron Freidin sold 30,452 shares of Grail stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $14.02, for a total value of $426,937.04. Following the completion of the sale, the chief financial officer now directly owns 268,277 shares in the company, valued at $3,761,243.54. This represents a 10.19 % decrease in their position. The disclosure for this sale can be found here.

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.