GRI Bio, Inc. (NASDAQ:GRI) Short Interest Up 155.5% in December

GRI Bio, Inc. (NASDAQ:GRI) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 311,700 shares, an increase of 155.5% from the November 30th total of 122,000 shares. Currently, 3.5% of the company’s shares are sold short. Based on an average daily volume of 4,360,000 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On GRI Bio

An institutional investor recently bought a new position in GRI Bio stock. Armistice Capital LLC purchased a new position in shares of GRI Bio, Inc. (NASDAQ:GRI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 50,207 shares of the company’s stock, valued at approximately $96,000. Armistice Capital LLC owned approximately 9.23% of GRI Bio as of its most recent filing with the Securities and Exchange Commission. 33.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GRI has been the subject of a number of research analyst reports. HC Wainwright began coverage on GRI Bio in a report on Monday, December 9th. They set a “buy” rating and a $10.00 price objective for the company. Ascendiant Capital Markets upped their price target on GRI Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th.

GRI Bio Stock Down 0.9 %

Shares of GRI stock opened at $0.78 on Friday. GRI Bio has a fifty-two week low of $0.30 and a fifty-two week high of $65.00. The firm’s 50 day moving average price is $0.81 and its two-hundred day moving average price is $0.96. The stock has a market cap of $6.94 million, a price-to-earnings ratio of -0.84 and a beta of -2.04.

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.