Short Interest in Grail, Inc. (NASDAQ:GRAL) Rises By 18.6%

Grail, Inc. (NASDAQ:GRAL) saw a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 5,810,000 shares, an increase of 18.6% from the December 15th total of 4,900,000 shares. Based on an average trading volume of 773,500 shares, the short-interest ratio is currently 7.5 days. Approximately 20.2% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

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

Insider Activity at Grail

In other Grail news, CFO Aaron Freidin sold 30,452 shares of Grail stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $14.02, for a total value of $426,937.04. Following the transaction, the chief financial officer now directly owns 268,277 shares of the company’s stock, valued at $3,761,243.54. The trade was a 10.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC bought a new stake in shares of Grail during the 4th quarter valued at about $26,000. B & T Capital Management DBA Alpha Capital Management purchased a new stake in Grail in the fourth quarter worth about $387,000. A. D. Beadell Investment Counsel Inc. purchased a new stake in Grail in the fourth quarter worth about $430,000. Wesbanco Bank Inc. bought a new stake in Grail during the 4th quarter valued at approximately $523,000. Finally, 180 Wealth Advisors LLC purchased a new position in shares of Grail during the 4th quarter worth approximately $1,681,000.

Grail Stock Performance

Shares of GRAL traded up $0.01 during mid-day trading on Friday, hitting $17.42. 483,860 shares of the company’s stock traded hands, compared to its average volume of 868,233. The business has a 50-day simple moving average of $18.32. Grail has a 1 year low of $12.33 and a 1 year high of $24.92.

About Grail

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.