Grail, Inc. (NASDAQ:GRAL) Sees Large Drop in Short Interest

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

Wall Street Analyst Weigh In

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

Grail Stock Up 1.9 %

GRAL stock traded up $0.53 on Wednesday, hitting $28.71. 346,943 shares of the company’s stock traded hands, compared to its average volume of 1,219,394. Grail has a 1-year low of $12.33 and a 1-year high of $63.99. The stock has a fifty day moving average of $32.20 and a 200-day moving average of $21.59.

Grail (NASDAQ:GRAL) last released its earnings results on Thursday, February 20th. The company reported ($1.86) EPS for the quarter, beating the consensus estimate of ($4.41) by $2.55. The business had revenue of $38.25 million for the quarter, compared to analyst estimates of $35.33 million. Equities research analysts forecast that Grail will post -15.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Grail news, CFO Aaron Freidin sold 1,816 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $31.20, for a total value of $56,659.20. Following the transaction, the chief financial officer now owns 335,170 shares in the company, valued at $10,457,304. The trade was a 0.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Joshua J. Ofman sold 2,109 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $31.20, for a total transaction of $65,800.80. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last three months, insiders sold 11,550 shares of company stock valued at $360,436.

Institutional Trading of Grail

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in Grail during the fourth quarter valued at approximately $26,000. State of Tennessee Department of Treasury purchased a new stake in Grail in the 4th quarter worth approximately $28,000. Lindbrook Capital LLC acquired a new position in shares of Grail during the 4th quarter worth $28,000. Sterling Capital Management LLC acquired a new position in shares of Grail during the 4th quarter worth $29,000. Finally, Wellington Shields Capital Management LLC acquired a new position in shares of Grail during the 4th quarter worth $33,000.

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.