GRI Bio, Inc. (NASDAQ:GRI) Sees Large Drop in Short Interest

GRI Bio, Inc. (NASDAQ:GRI) was the recipient of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 135,157 shares, a drop of 13.6% from the February 12th total of 156,438 shares. Currently, 10.2% of the company’s stock are sold short. Based on an average daily trading volume, of 59,653 shares, the short-interest ratio is currently 2.3 days. Based on an average daily trading volume, of 59,653 shares, the short-interest ratio is currently 2.3 days. Currently, 10.2% of the company’s stock are sold short.

GRI Bio Stock Performance

Shares of NASDAQ:GRI traded up $0.02 during mid-day trading on Tuesday, reaching $2.57. 25,743 shares of the company’s stock were exchanged, compared to its average volume of 423,563. GRI Bio has a twelve month low of $2.10 and a twelve month high of $311.36. The firm has a market capitalization of $3.73 million, a price-to-earnings ratio of -0.01 and a beta of -1.38. The business’s fifty day moving average price is $3.85 and its 200-day moving average price is $29.45.

GRI Bio (NASDAQ:GRI) last announced its earnings results on Friday, January 30th. The company reported $23.52 earnings per share (EPS) for the quarter. Analysts predict that GRI Bio will post -3.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GRI has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a report on Thursday, January 22nd. Wall Street Zen lowered shares of GRI Bio to a “strong sell” rating in a report on Saturday, January 31st. Finally, Ascendiant Capital Markets upped their target price on shares of GRI Bio from $980.00 to $1,008.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. 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.com, GRI Bio presently has an average rating of “Hold” and a consensus target price of $644.00.

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.