Short Interest in GRI Bio, Inc. (NASDAQ:GRI) Rises By 309.5%

GRI Bio, Inc. (NASDAQ:GRI) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 924,600 shares, a growth of 309.5% from the October 15th total of 225,800 shares. Based on an average daily trading volume, of 4,370,000 shares, the short-interest ratio is presently 0.2 days. Currently, 31.7% of the company’s stock are sold short.

Institutional Trading of GRI Bio

An institutional investor recently bought a new position in GRI Bio stock. Armistice Capital LLC bought a new position in shares of GRI Bio, Inc. (NASDAQ:GRI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 50,207 shares of the company’s stock, valued at approximately $96,000. Armistice Capital LLC owned 9.23% of GRI Bio as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 33.95% of the company’s stock.

GRI Bio Price Performance

Shares of GRI Bio stock traded up 0.03 during midday trading on Wednesday, reaching 0.88. 380,600 shares of the company’s stock traded hands, compared to its average volume of 1,444,655. The stock has a 50 day moving average of 0.60 and a 200-day moving average of 1.86. GRI Bio has a 12 month low of 0.30 and a 12 month high of 113.90.

GRI Bio (NASDAQ:GRI) last posted its quarterly earnings data on Tuesday, August 13th. The company reported -4.92 earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

Separately, Ascendiant Capital Markets started coverage on shares of GRI Bio in a report on Tuesday, October 8th. They set a “buy” rating and a $12.00 price target on the stock.

About GRI Bio

GRI Bio, Inc, a clinical-stage biopharmaceutical company, focuses on treating inflammatory, fibrotic, and autoimmune diseases in the United States. Its product pipeline comprises GRI-0621, which is in phase II clinical development for the treatment of idiopathic pulmonary fibrosis; GRI-0803 which is in phase I trial for the treatment of systematic lupus erythematosus; GRI-0124, which is in pre-clinical development for the treatment of primary sclerosing cholangitis; and GRI-0729 in pre-clinical development.