Short Interest in Grail, Inc. (NASDAQ:GRAL) Grows By 6.6%

Grail, Inc. (NASDAQ:GRAL) saw a large increase in short interest in the month of 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. Based on an average daily volume of 750,800 shares, the days-to-cover ratio is presently 4.7 days. Currently, 13.5% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Grail

In related news, CEO Robert P. Ragusa sold 123,454 shares of the 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 sale, the chief executive officer now directly owns 612,661 shares in the company, valued at approximately $8,589,507.22. This trade represents a 16.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 acquired at an average cost of $12.71 per share, with a total value of $444,850.00. Following the purchase, the insider now owns 3,558,655 shares in the company, valued at $45,230,505.05. The trade was a 0.99 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 58,829 shares of company stock worth $757,298 in the last three months.

Grail Stock Down 5.4 %

NASDAQ GRAL traded down $0.80 during trading on Monday, reaching $14.00. 1,377,515 shares of the company’s stock were exchanged, compared to its average volume of 1,096,653. Grail has a fifty-two week low of $12.33 and a fifty-two week high of $23.36. The firm’s 50 day simple moving average is $13.82.

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.