Short Interest in GRI Bio, Inc. (NASDAQ:GRI) Decreases By 73.9%

GRI Bio, Inc. (NASDAQ:GRI) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totaling 700,747 shares, a decrease of 73.9% from the December 31st total of 2,686,135 shares. Based on an average daily volume of 2,940,971 shares, the days-to-cover ratio is presently 0.2 days. Currently, 154.3% of the shares of the stock are sold short. Currently, 154.3% of the shares of the stock are sold short. Based on an average daily volume of 2,940,971 shares, the days-to-cover ratio is presently 0.2 days.

Analyst Ratings Changes

A number of research analysts have recently commented on GRI shares. Weiss Ratings restated a “sell (e+)” rating on shares of GRI Bio in a research report on Thursday, January 22nd. Ascendiant Capital Markets boosted their target price on GRI Bio from $980.00 to $1,008.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $644.00.

GRI Bio Stock Down 1.8%

Shares of NASDAQ GRI traded down $0.06 during trading hours on Friday, reaching $3.26. 202,407 shares of the stock traded hands, compared to its average volume of 781,974. The company’s 50-day simple moving average is $19.38 and its two-hundred day simple moving average is $38.64. The company has a market capitalization of $1.63 million, a P/E ratio of -0.39 and a beta of -1.39. GRI Bio has a 52-week low of $3.16 and a 52-week high of $316.44.

GRI Bio (NASDAQ:GRI) last issued its quarterly earnings results on Friday, November 14th. The company reported ($35.84) EPS for the quarter, missing analysts’ consensus estimates of ($31.08) by ($4.76). As a group, sell-side analysts forecast 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.