Grail, Inc. (NASDAQ:GRAL) Short Interest Up 15.9% in November

Grail, Inc. (NASDAQ:GRAL) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 4,380,000 shares, an increase of 15.9% from the November 15th total of 3,780,000 shares. Based on an average daily trading volume, of 726,200 shares, the days-to-cover ratio is currently 6.0 days. Approximately 15.4% of the company’s stock are short sold.

Grail Trading Up 3.9 %

Shares of GRAL traded up $0.87 during mid-day trading on Monday, reaching $23.03. 809,693 shares of the company’s stock traded hands, compared to its average volume of 1,062,692. The firm’s 50-day simple moving average is $15.86. Grail has a 12 month low of $12.33 and a 12 month high of $23.78.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, major shareholder Chun R. Ding purchased 7,629 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were acquired at an average cost of $13.52 per share, with a total value of $103,144.08. Following the transaction, the insider now owns 3,503,655 shares in the company, valued at approximately $47,369,415.60. The trade was a 0.22 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert P. Ragusa sold 123,454 shares of Grail 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 approximately $8,589,507.22. This represents a 16.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 58,829 shares of company stock worth $757,298.

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.