Short Interest in GRI Bio, Inc. (NASDAQ:GRI) Grows By 19.5%

GRI Bio, Inc. (NASDAQ:GRI) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totaling 134,378 shares, a growth of 19.5% from the March 31st total of 112,439 shares. Based on an average trading volume of 273,511 shares, the days-to-cover ratio is currently 0.5 days. Approximately 10.2% of the company’s stock are short sold.

GRI Bio Price Performance

Shares of GRI Bio stock remained flat at $2.18 on Friday. The company’s stock had a trading volume of 24,669 shares, compared to its average volume of 172,260. The company has a market cap of $3.16 million, a P/E ratio of -0.01 and a beta of -1.22. The company’s 50 day moving average price is $2.46 and its two-hundred day moving average price is $18.63. GRI Bio has a twelve month low of $2.10 and a twelve month high of $80.36.

GRI Bio (NASDAQ:GRI) last posted its earnings results on Friday, January 30th. The company reported $23.52 EPS for the quarter. As a group, analysts expect that GRI Bio will post -3.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GRI has been the subject of several analyst reports. Wall Street Zen downgraded GRI Bio to a “strong sell” rating in a report on Saturday, January 31st. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $1,008.00.

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.