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

GRI Bio, Inc. (NASDAQ:GRI) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 2,686,135 shares, an increase of 600.2% from the December 15th total of 383,633 shares. Currently, 90.0% of the company’s shares are short sold. Based on an average daily volume of 6,317,090 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 6,317,090 shares, the short-interest ratio is presently 0.4 days. Currently, 90.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GRI Bio in a research report on Wednesday, October 8th. Ascendiant Capital Markets upped their target price on GRI Bio from $35.00 to $36.00 and gave the company a “buy” rating in a report on Monday, December 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, GRI Bio has an average rating of “Hold” and an average target price of $23.00.

GRI Bio Stock Up 7.6%

GRI Bio stock traded up $0.02 during trading hours on Monday, reaching $0.24. 1,794,789 shares of the company’s stock were exchanged, compared to its average volume of 4,767,661. The firm’s 50 day simple moving average is $1.13 and its 200 day simple moving average is $1.51. GRI Bio has a twelve month low of $0.19 and a twelve month high of $13.09. The firm has a market capitalization of $791,340.00, a PE ratio of -0.03 and a beta of -1.39.

GRI Bio (NASDAQ:GRI) last announced its earnings results on Friday, November 14th. The company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($1.11) by ($0.17). Analysts anticipate that GRI Bio will post -3.04 EPS for the current year.

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.