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

GRI Bio, Inc. (NASDAQ:GRI) was the target of a significant decline in short interest in January. As of January 30th, there was short interest totaling 148,008 shares, a decline of 78.9% from the January 15th total of 700,747 shares. Approximately 11.2% of the shares of the stock are short sold. Based on an average daily volume of 1,354,107 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 1,354,107 shares, the days-to-cover ratio is presently 0.1 days. Approximately 11.2% of the shares of the stock are short sold.

GRI Bio Stock Down 3.8%

GRI Bio stock traded down $0.09 during trading hours on Wednesday, hitting $2.30. The stock had a trading volume of 45,266 shares, compared to its average volume of 725,244. The stock’s 50-day moving average price is $11.88 and its 200-day moving average price is $35.82. The stock has a market capitalization of $3.34 million, a P/E ratio of -0.01 and a beta of -1.40. GRI Bio has a 12-month low of $2.19 and a 12-month high of $311.36.

GRI Bio (NASDAQ:GRI) last issued its earnings results on Friday, January 30th. The company reported $23.52 EPS for the quarter. On average, research analysts expect that GRI Bio will post -3.04 EPS for the current fiscal year.

Analysts Set New Price Targets

GRI has been the topic of a number of research analyst reports. Wall Street Zen downgraded GRI Bio to a “strong sell” rating in a report on Saturday, January 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of GRI Bio in a research report on Thursday, January 22nd. Finally, Ascendiant Capital Markets raised their price target on shares of GRI Bio from $980.00 to $1,008.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $644.00.

GRI Bio Company Profile

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.