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

GRI Bio, Inc. (NASDAQ:GRI) was the recipient of a large increase in short interest during the month of 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. Based on an average daily trading volume, of 973,600 shares, the short-interest ratio is currently 0.2 days. Approximately 5.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in GRI Bio stock. Armistice Capital LLC bought a new stake in shares of GRI Bio, Inc. (NASDAQ:GRI) during the 2nd quarter, according to its most recent filing with the SEC. 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 as of its most recent filing with the SEC. 33.95% of the stock is owned by hedge funds and other institutional investors.

GRI Bio Trading Up 25.4 %

Shares of GRI stock traded up 0.09 on Wednesday, reaching 0.46. 11,759,466 shares of the stock were exchanged, compared to its average volume of 443,682. GRI Bio has a 1-year low of 0.30 and a 1-year high of 142.87. The firm has a 50 day moving average of 0.47 and a two-hundred day moving average of 2.70.

GRI Bio (NASDAQ:GRI) last released its quarterly earnings data on Tuesday, August 13th. The company reported -4.92 EPS for the quarter.

Analyst Ratings Changes

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

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.