Grail, Inc. (NASDAQ:GRAL) Sees Significant Increase in Short Interest

Grail, Inc. (NASDAQ:GRAL) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 3,530,000 shares, a growth of 6.6% from the October 15th total of 3,310,000 shares. Currently, 13.5% of the shares of the company are short sold. Based on an average daily volume of 750,800 shares, the days-to-cover ratio is presently 4.7 days.

Insider Buying and Selling at Grail

In related news, CEO Robert P. Ragusa sold 123,454 shares of Grail stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $14.02, for a total transaction of $1,730,825.08. Following the sale, the chief executive officer now directly owns 612,661 shares in the company, valued at $8,589,507.22. The trade was a 16.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Chun R. Ding acquired 35,000 shares of Grail stock in a transaction that occurred on Thursday, October 3rd. The stock was bought at an average cost of $12.71 per share, with a total value of $444,850.00. Following the acquisition, the insider now directly owns 3,558,655 shares of the company’s stock, valued at approximately $45,230,505.05. This trade represents a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 58,829 shares of company stock worth $757,298.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GRAL. Guggenheim began coverage on shares of Grail in a research note on Thursday, October 17th. They issued a “neutral” rating for the company. Wolfe Research started coverage on Grail in a research note on Friday. They set a “peer perform” rating for the company.

Grail Trading Down 5.4 %

Shares of NASDAQ:GRAL traded down $0.80 during trading hours on Monday, hitting $14.00. 1,377,515 shares of the company’s stock traded hands, compared to its average volume of 1,096,653. The company’s fifty day simple moving average is $13.82. Grail has a 52 week low of $12.33 and a 52 week high of $23.36.

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.