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

GRI Bio, Inc. (NASDAQ:GRI) saw a large increase in short interest in December. As of December 31st, there was short interest totaling 2,686,135 shares, an increase of 600.2% from the December 15th total of 383,633 shares. Based on an average daily volume of 6,317,090 shares, the short-interest ratio is presently 0.4 days. Approximately 90.0% of the company’s shares are sold short. Approximately 90.0% of the company’s shares are sold short. Based on an average daily volume of 6,317,090 shares, the short-interest ratio is presently 0.4 days.

GRI Bio Stock Up 10.5%

GRI traded up $0.02 during trading on Wednesday, hitting $0.24. 859,812 shares of the company’s stock were exchanged, compared to its average volume of 3,015,055. GRI Bio has a fifty-two week low of $0.19 and a fifty-two week high of $13.09. The stock has a market cap of $777,933.00, a P/E ratio of -0.03 and a beta of -1.39. The business’s 50 day moving average is $1.10 and its two-hundred day moving average is $1.50.

GRI Bio (NASDAQ:GRI) last posted its earnings results on Friday, November 14th. The company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.17). On average, sell-side analysts forecast that GRI Bio will post -3.04 earnings per share for the current year.

Analyst Ratings Changes

GRI has been the subject of a number of research analyst reports. Ascendiant Capital Markets lifted their target price on GRI Bio from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, December 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $23.00.

About GRI Bio

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.