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

GRI Bio, Inc. (NASDAQ:GRI) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 19,400 shares, a decrease of 29.2% from the February 28th total of 27,400 shares. Currently, 3.7% of the shares of the stock are sold short. Based on an average daily volume of 14,400 shares, the days-to-cover ratio is presently 1.3 days.

Wall Street Analyst Weigh In

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

GRI Bio Stock Performance

GRI Bio stock traded down $0.76 during mid-day trading on Tuesday, hitting $2.44. 10,826,332 shares of the company traded hands, compared to its average volume of 187,525. GRI Bio has a one year low of $2.44 and a one year high of $165.73. The stock has a market cap of $1.28 million, a price-to-earnings ratio of -0.21 and a beta of -2.10. The stock has a fifty day moving average price of $8.08 and a 200-day moving average price of $10.50.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GRI Bio stock. Geode Capital Management LLC grew its position in shares of GRI Bio, Inc. (NASDAQ:GRI) by 543.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,182 shares of the company’s stock after purchasing an additional 64,335 shares during the period. Geode Capital Management LLC owned about 0.85% of GRI Bio worth $63,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 33.95% of the company’s 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.