GRI Bio, Inc. (NASDAQ:GRI) Short Interest Down 93.2% in February

GRI Bio, Inc. (NASDAQ:GRI) saw a large decline in short interest in the month of February. As of February 15th, there was short interest totalling 23,800 shares, a decline of 93.2% from the January 31st total of 348,600 shares. Based on an average daily volume of 15,500 shares, the days-to-cover ratio is presently 1.5 days.

GRI Bio Stock Down 0.9 %

GRI traded down $0.07 during trading on Friday, reaching $7.92. 3,899 shares of the company’s stock were exchanged, compared to its average volume of 12,542. The company has a market capitalization of $4.16 million, a P/E ratio of -0.69 and a beta of -2.15. The business has a 50 day moving average price of $10.95 and a 200 day moving average price of $10.81. GRI Bio has a fifty-two week low of $5.13 and a fifty-two week high of $202.22.

Institutional Trading of GRI Bio

An institutional investor recently raised its position in GRI Bio stock. Geode Capital Management LLC boosted its holdings in shares of GRI Bio, Inc. (NASDAQ:GRI) by 543.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,182 shares of the company’s stock after purchasing an additional 64,335 shares during the period. Geode Capital Management LLC owned about 0.85% of GRI Bio worth $63,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 33.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GRI. HC Wainwright initiated coverage on shares of GRI Bio in a research report on Monday, December 9th. They set a “buy” rating and a $170.00 price objective for the company. Ascendiant Capital Markets upped their price target on GRI Bio from $204.00 to $221.00 and gave the company a “buy” rating in a report on Thursday, December 5th.

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.