Short Interest in Grail, Inc. (NASDAQ:GRAL) Declines By 12.5%

Grail, Inc. (NASDAQ:GRAL) saw a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 4,640,000 shares, a drop of 12.5% from the January 31st total of 5,300,000 shares. Approximately 16.6% of the shares of the company are short sold. Based on an average daily trading volume, of 1,310,000 shares, the days-to-cover ratio is presently 3.5 days.

Grail Stock Down 5.7 %

Grail stock traded down $1.92 during midday trading on Friday, hitting $31.54. 1,035,978 shares of the company were exchanged, compared to its average volume of 1,206,306. The business has a fifty day simple moving average of $30.38 and a two-hundred day simple moving average of $20.69. Grail has a fifty-two week low of $12.33 and a fifty-two week high of $63.99.

Grail (NASDAQ:GRAL) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.86) EPS for the quarter, topping the consensus estimate of ($4.41) by $2.55. The company had revenue of $38.25 million during the quarter, compared to analysts’ expectations of $35.33 million. As a group, sell-side analysts anticipate that Grail will post -15.15 earnings per share for the current year.

Institutional Trading of Grail

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Alpha Wealth Funds LLC acquired a new position in shares of Grail in the fourth quarter worth about $2,562,000. Ameriflex Group Inc. acquired a new position in Grail in the 4th quarter worth about $95,000. PVG Asset Management Corp purchased a new position in Grail during the fourth quarter worth approximately $398,000. Public Employees Retirement System of Ohio acquired a new stake in Grail in the fourth quarter valued at approximately $334,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Grail in the fourth quarter valued at approximately $1,201,000.

Analyst Upgrades and Downgrades

GRAL has been the topic of several recent research reports. Wolfe Research assumed coverage on shares of Grail in a report on Friday, November 15th. They issued a “peer perform” rating on the stock. Morgan Stanley began coverage on shares of Grail in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $16.00 target price for the company.

Grail Company Profile

GRAIL, Inc is a healthcare company. It engages in the development of a technology for early detection of cancer. The company was founded by Jeffrey T. Huber, William H. Rastetter, and Mostafa Ronaghi on September 11, 2015 and is headquartered in Menlo Park, CA.