Grail, Inc. (NASDAQ:GRAL - Get Free Report) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 3,780,000 shares, a growth of 7.1% from the October 31st total of 3,530,000 shares. Approximately 14.4% of the company's shares are sold short. Based on an average trading volume of 743,000 shares, the days-to-cover ratio is presently 5.1 days.
Insider Activity
In related news, major shareholder Chun R. Ding bought 35,000 shares of the business's stock in a transaction that occurred on Thursday, October 3rd. The stock was purchased at an average cost of $12.71 per share, for a total transaction of $444,850.00. Following the purchase, the insider now directly owns 3,558,655 shares in the company, valued at $45,230,505.05. This trade represents a 0.99 % increase in their ownership of the stock. The purchase 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 the stock in a transaction on Tuesday, October 15th. The shares were 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 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. Insiders have bought 58,829 shares of company stock worth $757,298 over the last 90 days.
Grail Trading Up 3.4 %
NASDAQ GRAL traded up $0.63 on Tuesday, reaching $19.36. The company had a trading volume of 1,161,962 shares, compared to its average volume of 1,068,711. The company has a 50 day moving average of $14.48. Grail has a 52 week low of $12.33 and a 52 week high of $23.36.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the stock. Wolfe Research assumed coverage on shares of Grail in a research note on Friday, November 15th. They issued a "peer perform" rating for the company. Morgan Stanley assumed coverage on Grail in a research note on Wednesday, November 27th. They issued an "equal weight" rating and a $16.00 price objective on the stock. Finally, Guggenheim began coverage on Grail in a research note on Thursday, October 17th. They issued a "neutral" rating on the stock.
View Our Latest Report on Grail
About Grail
(
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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.
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