Short Interest in GRI Bio, Inc. (NASDAQ:GRI) Increases By 155.5%

GRI Bio, Inc. (NASDAQ:GRI) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 311,700 shares, a growth of 155.5% from the November 30th total of 122,000 shares. Approximately 3.5% of the shares of the stock are sold short. Based on an average daily volume of 4,360,000 shares, the short-interest ratio is presently 0.1 days.

GRI Bio Stock Down 0.9 %

Shares of NASDAQ:GRI opened at $0.78 on Friday. The business has a 50 day moving average price of $0.81 and a 200 day moving average price of $0.96. GRI Bio has a twelve month low of $0.30 and a twelve month high of $65.00. The company has a market cap of $6.94 million, a price-to-earnings ratio of -0.84 and a beta of -2.04.

Hedge Funds Weigh In On GRI Bio

A hedge fund recently bought a new stake in GRI Bio stock. Armistice Capital LLC bought a new stake in GRI Bio, Inc. (NASDAQ:GRI) during the second quarter, according to its most recent disclosure with the 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 SEC. Institutional investors own 33.95% of the company’s stock.

Analyst Upgrades and Downgrades

GRI has been the topic of several research reports. Ascendiant Capital Markets increased their target price on GRI Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. HC Wainwright started coverage on shares of GRI Bio in a report on Monday, December 9th. They issued a “buy” rating and a $10.00 price objective on the stock.

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.