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

GRI Bio, Inc. (NASDAQ:GRI) was the target of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 23,800 shares, a drop of 93.2% from the January 31st total of 348,600 shares. Based on an average trading volume of 15,500 shares, the days-to-cover ratio is presently 1.5 days.

GRI Bio Trading Down 6.1 %

Shares of GRI traded down $0.49 during mid-day trading on Friday, hitting $7.50. The company’s stock had a trading volume of 2,589 shares, compared to its average volume of 12,492. The firm has a market capitalization of $3.94 million, a price-to-earnings ratio of -0.65 and a beta of -2.15. GRI Bio has a 52-week low of $5.13 and a 52-week high of $202.22. The company’s 50-day moving average is $11.04 and its 200-day moving average is $10.81.

Analysts Set New Price Targets

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

Institutional Trading of GRI Bio

A hedge fund recently raised its stake in GRI Bio stock. Geode Capital Management LLC boosted its holdings in GRI Bio, Inc. (NASDAQ:GRI) by 543.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,182 shares of the company’s stock after acquiring an additional 64,335 shares during the period. Geode Capital Management LLC owned 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 hedge funds and other institutional investors.

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.