Short Interest in Grail, Inc. (NASDAQ:GRAL) Rises By 15.9%

Grail, Inc. (NASDAQ:GRAL - Get Free Report) was the recipient of a significant 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 volume of 726,200 shares, the short-interest ratio is presently 6.0 days. Approximately 15.4% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

Grail Stock Up 2.6 %

Shares of Grail stock traded up $0.58 during trading hours on Monday, reaching $22.74. 1,086,649 shares of the stock traded hands, compared to its average volume of 1,065,056. Grail has a one year low of $12.33 and a one year high of $23.78. The business's 50 day moving average is $15.86.

Insiders Place Their Bets

In other news, CFO Aaron Freidin sold 30,452 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $14.02, for a total value of $426,937.04. Following the completion of the sale, the chief financial officer now owns 268,277 shares of the company's stock, valued at approximately $3,761,243.54. The trade was a 10.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Chun R. Ding bought 7,629 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was acquired at an average cost of $13.52 per share, for a total transaction of $103,144.08. Following the completion of the purchase, the insider now directly owns 3,503,655 shares of the company's stock, valued at $47,369,415.60. The trade was a 0.22 % 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 over the last 90 days.

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.