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

GRI Bio, Inc. (NASDAQ:GRI) was the target of a large increase in short interest during 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. Approximately 3.5% of the company’s stock are short sold. Based on an average daily volume of 4,360,000 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

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

GRI Bio Price Performance

GRI Bio stock opened at $0.78 on Friday. The firm has a market cap of $7.01 million, a price-to-earnings ratio of -0.84 and a beta of -2.04. The firm has a fifty day moving average price of $0.80 and a two-hundred day moving average price of $0.99. GRI Bio has a fifty-two week low of $0.30 and a fifty-two week high of $65.00.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in GRI Bio stock. Armistice Capital LLC bought a new position in GRI Bio, Inc. (NASDAQ:GRI) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent reporting period. 33.95% of the stock is currently owned by institutional investors and hedge funds.

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.