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

Grail, Inc. (NASDAQ:GRAL - Get Free Report) was the recipient of a large 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 daily volume of 1,430,000 shares, the days-to-cover ratio is currently 2.5 days. Currently, 13.2% of the company's stock are sold short.

Grail Trading Up 7.2 %

Shares of NASDAQ GRAL traded up $2.00 during mid-day trading on Friday, hitting $29.81. The company had a trading volume of 474,048 shares, compared to its average volume of 1,217,762. Grail has a 12 month low of $12.33 and a 12 month high of $63.99. The firm's 50 day simple moving average is $32.61 and its two-hundred day simple moving average is $21.67.

Grail (NASDAQ:GRAL - Get Free Report) last announced its quarterly 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 company had revenue of $38.25 million during the quarter, compared to the consensus estimate of $35.33 million. Equities research analysts expect that Grail will post -15.15 EPS for the current year.

Insider Buying and Selling at Grail

In other news, President Joshua J. Ofman sold 2,109 shares of Grail stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.20, for a total value of $65,800.80. Following the completion of the transaction, the president now owns 559,673 shares in the company, valued at approximately $17,461,797.60. This trade represents a 0.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aaron Freidin sold 1,816 shares of Grail stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $31.20, for a total value of $56,659.20. Following the completion of the transaction, the chief financial officer now owns 335,170 shares of the company's stock, valued at approximately $10,457,304. The trade was a 0.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,550 shares of company stock worth $360,436 in the last 90 days.

Remove Ads

Institutional Trading of Grail

A number of hedge funds and other institutional investors have recently modified their holdings of GRAL. FNY Investment Advisers LLC bought a new stake in shares of Grail in the 4th quarter worth $26,000. Lindbrook Capital LLC bought a new stake in shares of Grail in the 4th quarter worth $28,000. State of Tennessee Department of Treasury bought a new stake in shares of Grail in the 4th quarter worth $28,000. Sterling Capital Management LLC bought a new stake in shares of Grail in the 4th quarter worth $29,000. Finally, Wellington Shields Capital Management LLC acquired a new position in shares of Grail in the 4th quarter worth $33,000.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lifted their target price on Grail from $16.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Tuesday.

Grail Company Profile

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.