GRI Bio, Inc. (NASDAQ:GRI) Sees Large Increase in Short Interest

GRI Bio, Inc. (NASDAQ:GRI) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 383,633 shares, a growth of 169.5% from the November 30th total of 142,328 shares. Approximately 11.8% of the company’s stock are short sold. Based on an average daily volume of 2,103,519 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 2,103,519 shares, the short-interest ratio is currently 0.2 days. Approximately 11.8% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

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

GRI Bio Price Performance

GRI Bio stock traded down $0.03 during midday trading on Friday, reaching $0.29. The company’s stock had a trading volume of 1,262,596 shares, compared to its average volume of 605,049. The stock has a market capitalization of $948,010.00, a P/E ratio of -0.03 and a beta of -1.48. The stock’s 50-day simple moving average is $1.53 and its 200-day simple moving average is $1.59. GRI Bio has a 52-week low of $0.29 and a 52-week high of $15.64.

GRI Bio (NASDAQ:GRI) last posted its quarterly earnings data on Friday, November 14th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.11) by ($0.17). As a group, equities research analysts expect that GRI Bio will post -3.04 earnings per share for the current fiscal 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.