GRI Bio, Inc. (NASDAQ:GRI) Short Interest Down 29.2% in March

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Ascendiant Capital Markets lifted their price target on GRI Bio from $204.00 to $221.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. HC Wainwright initiated coverage on shares of GRI Bio in a research report on Monday, December 9th. They set a “buy” rating and a $170.00 target price on the stock.

Institutional Trading of GRI Bio

A hedge fund recently bought a new stake in GRI Bio stock. Virtu Financial LLC bought a new position in shares of GRI Bio, Inc. (NASDAQ:GRI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 30,381 shares of the company’s stock, valued at approximately $25,000. Virtu Financial LLC owned about 0.34% of GRI Bio at the end of the most recent quarter. 33.95% of the stock is owned by hedge funds and other institutional investors.

GRI Bio Price Performance

Shares of GRI stock traded down $1.17 during midday trading on Monday, reaching $3.20. 96,211 shares of the company traded hands, compared to its average volume of 17,368. The firm’s 50 day simple moving average is $8.26 and its two-hundred day simple moving average is $10.54. The firm has a market cap of $1.68 million, a PE ratio of -0.28 and a beta of -2.10. GRI Bio has a 1-year low of $3.05 and a 1-year high of $172.49.

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.