Short Interest in GRI Bio, Inc. (NASDAQ:GRI) Declines By 12.5%

GRI Bio, Inc. (NASDAQ:GRI) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 272,800 shares, a decline of 12.5% from the December 15th total of 311,700 shares. Based on an average daily volume of 4,160,000 shares, the short-interest ratio is presently 0.1 days. Currently, 3.1% of the company’s shares are sold short.

GRI Bio Trading Up 2.1 %

Shares of NASDAQ GRI traded up $0.01 during trading on Friday, reaching $0.72. The company had a trading volume of 95,239 shares, compared to its average volume of 186,285. The company’s fifty day moving average price is $0.77 and its 200-day moving average price is $0.77. GRI Bio has a 12 month low of $0.30 and a 12 month high of $65.00.

Hedge Funds Weigh In On GRI Bio

A hedge fund recently bought a new stake in GRI Bio stock. Armistice Capital LLC bought a new stake in GRI Bio, Inc. (NASDAQ:GRI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing. 33.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GRI. Ascendiant Capital Markets raised their price objective on shares of GRI Bio from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, December 5th. HC Wainwright assumed coverage on shares of GRI Bio in a research note on Monday, December 9th. They set a “buy” rating and a $10.00 price target for the company.

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.