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

GRI Bio, Inc. (NASDAQ:GRI) was the target of a large 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. Based on an average daily trading volume, of 14,400 shares, the short-interest ratio is currently 1.3 days. Approximately 3.7% of the company’s shares are short sold.

Hedge Funds Weigh In On GRI Bio

An institutional investor recently raised its position in GRI Bio stock. Geode Capital Management LLC boosted its holdings in shares of GRI Bio, Inc. (NASDAQ:GRI) by 543.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,182 shares of the company’s stock after buying an additional 64,335 shares during the quarter. Geode Capital Management LLC owned 0.85% of GRI Bio worth $63,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 33.95% of the company’s stock.

GRI Bio Stock Down 25.6 %

NASDAQ:GRI traded down $1.50 during trading hours on Friday, reaching $4.37. 60,449 shares of the stock were exchanged, compared to its average volume of 16,027. GRI Bio has a twelve month low of $4.32 and a twelve month high of $172.49. The business has a 50-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 price-to-earnings ratio of -0.38 and a beta of -2.10.

Analyst Ratings Changes

Several analysts have recently commented on GRI shares. Ascendiant Capital Markets lifted their price target 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 issued a “buy” rating and a $170.00 price target on the stock.

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.