Short Interest in Grail, Inc. (NASDAQ:GRAL) Expands By 11.9%

Grail, Inc. (NASDAQ:GRAL) saw 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 trading volume, of 800,300 shares, the days-to-cover ratio is presently 6.1 days. Approximately 17.0% of the shares of the stock are sold short.

Grail Trading Down 4.2 %

Shares of GRAL stock traded down $0.79 during mid-day trading on Wednesday, reaching $17.85. 728,612 shares of the stock traded hands, compared to its average volume of 1,077,587. The business has a fifty day moving average price of $17.25. Grail has a 1-year low of $12.33 and a 1-year high of $24.92.

Analysts Set New Price Targets

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

Insider Activity

In other news, major shareholder Chun R. Ding acquired 35,000 shares of the stock in a transaction on Thursday, October 3rd. The stock was acquired at an average cost of $12.71 per share, for a total transaction of $444,850.00. Following the completion of the transaction, the insider now directly 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 purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert P. Ragusa sold 123,454 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.02, for a total value of $1,730,825.08. Following the sale, the chief executive officer now owns 612,661 shares of the company’s stock, valued at $8,589,507.22. The trade was a 16.77 % decrease in their ownership of the stock. 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.