Short Interest in GRI Bio, Inc. (NASDAQ:GRI) Decreases By 78.9%

GRI Bio, Inc. (NASDAQ:GRI) was the recipient of a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 148,008 shares, a drop of 78.9% from the January 15th total of 700,747 shares. Based on an average daily trading volume, of 1,354,107 shares, the short-interest ratio is currently 0.1 days. Currently, 11.2% of the shares of the company are short sold. Currently, 11.2% of the shares of the company are short sold. Based on an average daily trading volume, of 1,354,107 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Ascendiant Capital Markets increased their target price on GRI Bio from $980.00 to $1,008.00 and gave the company a “buy” rating in a report on Monday, December 8th. Wall Street Zen cut shares of GRI Bio to a “strong sell” rating in a research note on Saturday, January 31st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of GRI Bio in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $644.00.

GRI Bio Trading Down 2.4%

NASDAQ GRI traded down $0.06 on Tuesday, reaching $2.39. 156,306 shares of the stock were exchanged, compared to its average volume of 962,266. GRI Bio has a one year low of $2.19 and a one year high of $311.36. The firm has a market capitalization of $3.47 million, a PE ratio of -0.01 and a beta of -1.40. The company’s 50-day simple moving average is $11.88 and its two-hundred day simple moving average is $35.82.

GRI Bio (NASDAQ:GRI) last posted its quarterly earnings results on Friday, January 30th. The company reported $23.52 earnings per share for the quarter. Sell-side analysts forecast that GRI Bio will post -3.04 earnings per share for the current fiscal year.

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.