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

GRI Bio, Inc. (NASDAQ:GRI) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 272,800 shares, a drop of 12.5% from the December 15th total of 311,700 shares. Based on an average daily volume of 4,160,000 shares, the short-interest ratio is presently 0.1 days. Currently, 3.1% of the shares of the company are short sold.

GRI Bio Price Performance

GRI Bio stock traded up $0.01 during mid-day trading on Friday, reaching $0.72. 95,239 shares of the company were exchanged, compared to its average volume of 186,285. The company has a fifty day simple moving average of $0.77 and a 200-day simple moving average of $0.77. GRI Bio has a 12 month low of $0.30 and a 12 month high of $65.00.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Ascendiant Capital Markets boosted their target price on shares of GRI Bio from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. HC Wainwright initiated coverage on shares of GRI Bio in a report on Monday, December 9th. They issued a “buy” rating and a $10.00 price objective for the company.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in GRI Bio stock. Armistice Capital LLC acquired a new position in shares of GRI Bio, Inc. (NASDAQ:GRI) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 50,207 shares of the company’s stock, valued at approximately $96,000. Armistice Capital LLC owned approximately 9.23% of GRI Bio as of its most recent SEC filing. 33.95% of the stock is currently owned by hedge funds and other institutional investors.

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.