Short Interest in GRI Bio, Inc. (NASDAQ:GRI) Declines By 93.2%

GRI Bio, Inc. (NASDAQ:GRI) was the recipient of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 23,800 shares, a drop of 93.2% from the January 31st total of 348,600 shares. Based on an average daily volume of 15,500 shares, the short-interest ratio is currently 1.5 days.

GRI Bio Trading Down 2.6 %

Shares of GRI stock traded down $0.21 during trading hours on Thursday, hitting $7.99. The company’s stock had a trading volume of 11,544 shares, compared to its average volume of 12,771. GRI Bio has a twelve month low of $5.13 and a twelve month high of $202.22. The stock has a market cap of $4.19 million, a price-to-earnings ratio of -0.69 and a beta of -2.15. The business has a fifty day moving average of $11.14 and a 200-day moving average of $10.83.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Ascendiant Capital Markets boosted their price target on shares of GRI Bio from $204.00 to $221.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. HC Wainwright initiated coverage on shares of GRI Bio in a research note on Monday, December 9th. They set a “buy” rating and a $170.00 target price on the stock.

Hedge Funds Weigh In On GRI Bio

An institutional investor recently bought a new position in GRI Bio stock. Virtu Financial LLC purchased a new position in GRI Bio, Inc. (NASDAQ:GRI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 30,381 shares of the company’s stock, valued at approximately $25,000. Virtu Financial LLC owned about 0.34% of GRI Bio as of its most recent filing with the Securities and Exchange Commission. 33.95% of the stock is owned by institutional investors and hedge funds.

GRI Bio Company Profile

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.