Short Interest in GRI Bio, Inc. (NASDAQ:GRI) Grows By 17.7%

GRI Bio, Inc. (NASDAQ:GRI) was the target of a large increase in short interest in September. As of September 30th, there was short interest totalling 169,100 shares, an increase of 17.7% from the September 15th total of 143,700 shares. Approximately 5.8% of the shares of the company are short sold. Based on an average trading volume of 973,600 shares, the short-interest ratio is presently 0.2 days.

GRI Bio Stock Up 25.4 %

Shares of GRI Bio stock traded up 0.09 on Wednesday, reaching 0.46. 15,603,801 shares of the company were exchanged, compared to its average volume of 462,904. GRI Bio has a 1-year low of 0.30 and a 1-year high of 142.87. The company’s 50-day moving average is 0.47 and its two-hundred day moving average is 2.70.

GRI Bio (NASDAQ:GRI) last issued its earnings results on Tuesday, August 13th. The company reported -4.92 earnings per share for the quarter.

Institutional Trading of GRI Bio

A hedge fund recently bought a new stake in GRI Bio stock. Armistice Capital LLC bought a new stake in GRI Bio, Inc. (NASDAQ:GRI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 50,207 shares of the company’s stock, valued at approximately $96,000. Armistice Capital LLC owned 9.23% of GRI Bio at the end of the most recent reporting period. Hedge funds and other institutional investors own 33.95% of the company’s stock.

Analysts Set New Price Targets

Separately, Ascendiant Capital Markets began coverage on shares of GRI Bio in a research report on Tuesday, October 8th. They set a “buy” rating and a $12.00 price objective for the company.

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.