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

Grail, Inc. (NASDAQ:GRAL) saw a significant 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. Approximately 13.2% of the shares of the company are sold short. Based on an average daily volume of 1,430,000 shares, the short-interest ratio is presently 2.5 days.

Insider Activity at Grail

In other Grail news, President Joshua J. Ofman sold 2,109 shares of the company’s stock in a transaction that occurred on 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 directly owns 559,673 shares of the company’s stock, valued at approximately $17,461,797.60. This represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert P. Ragusa sold 7,625 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $31.21, for a total transaction of $237,976.25. Following the sale, the chief executive officer now directly owns 828,662 shares of the company’s stock, valued at approximately $25,862,541.02. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,550 shares of company stock worth $360,436 over the last quarter.

Institutional Trading of Grail

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

Analyst Ratings Changes

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

Grail Stock Performance

Shares of NASDAQ GRAL traded down $0.95 during midday trading on Tuesday, reaching $28.18. The stock had a trading volume of 950,614 shares, compared to its average volume of 1,223,999. The stock has a 50-day moving average of $32.20 and a 200-day moving average of $21.59. Grail has a 12-month low of $12.33 and a 12-month high of $63.99.

Grail (NASDAQ:GRAL) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.86) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($4.41) by $2.55. The firm had revenue of $38.25 million during the quarter, compared to analysts’ expectations of $35.33 million. Equities analysts anticipate that Grail will post -15.15 earnings per share for the current fiscal year.

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.