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

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Guggenheim started coverage on shares of Grail in a research note on Thursday, October 17th. They set a “neutral” rating on the stock. Wolfe Research started coverage on shares of Grail in a report on Friday. They issued a “peer perform” rating on the stock.

Insider Buying and Selling at Grail

In related news, CEO Robert P. Ragusa sold 123,454 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.02, for a total transaction of $1,730,825.08. Following the completion of 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 through this hyperlink. Also, major shareholder Chun R. Ding purchased 35,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The stock was purchased at an average price of $12.71 per share, with a total value of $444,850.00. Following the purchase, the insider now directly owns 3,558,655 shares of the company’s stock, valued at $45,230,505.05. The trade was a 0.99 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 58,829 shares of company stock valued at $757,298 in the last three months.

Grail Trading Up 3.5 %

Grail stock traded up $0.49 during mid-day trading on Tuesday, reaching $14.49. 152,820 shares of the company were exchanged, compared to its average volume of 1,088,150. The stock has a 50-day moving average price of $13.84. Grail has a twelve month low of $12.33 and a twelve month 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.