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

GRI Bio, Inc. (NASDAQ:GRI) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 383,633 shares, a growth of 169.5% from the November 30th total of 142,328 shares. Currently, 11.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,103,519 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 2,103,519 shares, the days-to-cover ratio is presently 0.2 days. Currently, 11.8% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

GRI has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a research note on Wednesday, October 8th. Ascendiant Capital Markets raised their price target on GRI Bio from $35.00 to $36.00 and gave the company a “buy” rating in a report on Monday, December 8th. Two 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 presently has a consensus rating of “Hold” and a consensus target price of $23.00.

GRI Bio Stock Down 14.6%

GRI stock traded down $0.05 during trading on Friday, hitting $0.28. The company had a trading volume of 4,194,476 shares, compared to its average volume of 1,504,389. The firm has a 50-day moving average price of $1.50 and a 200-day moving average price of $1.59. GRI Bio has a 12 month low of $0.27 and a 12 month high of $15.64. The stock has a market cap of $902,520.00, a price-to-earnings ratio of -0.03 and a beta of -1.48.

GRI Bio (NASDAQ:GRI) last announced its quarterly earnings data on Friday, November 14th. The company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.17). Equities analysts expect that GRI Bio will post -3.04 EPS for the current 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.