Grail, Inc. (NASDAQ:GRAL) Short Interest Down 21.6% in February

Grail, Inc. (NASDAQ:GRAL) saw a significant drop in short interest in February. As of February 28th, there was short interest totalling 3,640,000 shares, a drop of 21.6% from the February 13th total of 4,640,000 shares. Based on an average trading volume of 1,430,000 shares, the short-interest ratio is currently 2.5 days. Currently, 13.2% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, Morgan Stanley increased their price objective on shares of Grail from $16.00 to $20.00 and gave the company an “equal weight” rating in a research report on Tuesday.

Insider Activity at Grail

In other Grail news, CFO Aaron Freidin sold 1,816 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $31.20, for a total transaction of $56,659.20. Following the completion of the transaction, the chief financial officer now owns 335,170 shares in the company, valued at $10,457,304. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert P. Ragusa sold 7,625 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $31.21, for a total transaction of $237,976.25. Following the transaction, the chief executive officer now owns 828,662 shares of the company’s stock, valued at $25,862,541.02. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,550 shares of company stock valued at $360,436.

Institutional Investors Weigh In On Grail

Several institutional investors have recently made changes to their positions in the company. Crcm LP bought a new stake in shares of Grail in the 4th quarter worth about $65,061,000. Sessa Capital IM L.P. bought a new stake in shares of Grail in the 4th quarter worth about $53,550,000. Primecap Management Co. CA bought a new stake in shares of Grail in the 4th quarter worth about $37,118,000. Baker BROS. Advisors LP bought a new stake in Grail during the 4th quarter valued at about $29,098,000. Finally, Vanguard Group Inc. bought a new stake in Grail during the 4th quarter valued at about $25,902,000.

Grail Price Performance

GRAL stock traded down $0.95 during trading on Tuesday, hitting $28.18. 950,614 shares of the company’s stock traded hands, compared to its average volume of 1,223,999. The business has a fifty day simple moving average of $32.20 and a 200 day simple moving average of $21.59. Grail has a 52 week low of $12.33 and a 52 week high of $63.99.

Grail (NASDAQ:GRAL) last released its earnings results on Thursday, February 20th. The company reported ($1.86) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.41) by $2.55. The firm had revenue of $38.25 million during the quarter, compared to the consensus estimate of $35.33 million. Analysts anticipate that Grail will post -15.15 earnings per share for the current fiscal year.

About Grail

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.