GRI Bio, Inc. (NASDAQ:GRI) Short Interest Update

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Ascendiant Capital Markets lifted their price objective on shares of GRI Bio from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. HC Wainwright began coverage on shares of GRI Bio in a report on Monday, December 9th. They set a “buy” rating and a $10.00 price target on the stock.

GRI Bio Stock Down 0.9 %

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

Institutional Investors Weigh In On GRI Bio

An institutional investor recently bought a new position in GRI Bio stock. Armistice Capital LLC bought a new stake in GRI Bio, Inc. (NASDAQ:GRI) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 50,207 shares of the company’s stock, valued at approximately $96,000. Armistice Capital LLC owned 9.23% of GRI Bio at the end of the most recent reporting period. 33.95% of the stock is currently owned by institutional investors.

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.