Grail, Inc. (NASDAQ:GRAL) Short Interest Up 7.1% in November

Grail, Inc. (NASDAQ:GRAL) was the recipient 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. Currently, 14.4% of the company’s stock are sold short.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Robert P. Ragusa sold 123,454 shares of Grail stock in a transaction dated 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 transaction, the chief executive officer now directly owns 612,661 shares of the company’s stock, valued at $8,589,507.22. The trade was a 16.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Chun R. Ding bought 7,629 shares of the stock in a transaction on Tuesday, October 1st. The shares were acquired at an average price of $13.52 per share, with a total value of $103,144.08. Following the purchase, the insider now owns 3,503,655 shares of the company’s stock, valued at $47,369,415.60. The trade was a 0.22 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, 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.

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.