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

GRI Bio, Inc. (NASDAQ:GRI) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 19,400 shares, a decrease of 29.2% from the February 28th total of 27,400 shares. Currently, 3.7% of the shares of the stock are short sold. Based on an average trading volume of 14,400 shares, the short-interest ratio is currently 1.3 days.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GRI shares. Ascendiant Capital Markets lifted their target price on shares of GRI Bio from $204.00 to $221.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. HC Wainwright assumed coverage on GRI Bio in a research note on Monday, December 9th. They set a “buy” rating and a $170.00 price objective for the company.

Institutional Trading of GRI Bio

A hedge fund recently raised its stake in GRI Bio stock. Geode Capital Management LLC lifted its stake in GRI Bio, Inc. (NASDAQ:GRI) by 543.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,182 shares of the company’s stock after purchasing an additional 64,335 shares during the quarter. Geode Capital Management LLC owned about 0.85% of GRI Bio worth $63,000 at the end of the most recent reporting period. 33.95% of the stock is owned by institutional investors and hedge funds.

GRI Bio Stock Down 25.6 %

Shares of GRI Bio stock traded down $1.50 during trading hours on Friday, reaching $4.37. 60,449 shares of the company’s stock were exchanged, compared to its average volume of 16,027. The business has a fifty day moving average of $8.26 and a two-hundred day moving average of $10.53. The company has a market capitalization of $2.29 million, a P/E ratio of -0.38 and a beta of -2.10. GRI Bio has a 1 year low of $4.32 and a 1 year high of $172.49.

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.