GRI Bio, Inc. (NASDAQ:GRI) Sees Large Growth in Short Interest

by · The Markets Daily

GRI Bio, Inc. (NASDAQ:GRI – Get Free Report) saw a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 924,600 shares, an increase of 309.5% from the October 15th total of 225,800 shares. Currently, 31.7% of the company’s stock are short sold. Based on an average daily trading volume, of 4,370,000 shares, the short-interest ratio is currently 0.2 days.

Institutional Trading of 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 – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 50,207 shares of the company’s stock, valued at approximately $96,000. Armistice Capital LLC owned approximately 9.23% of GRI Bio as of its most recent SEC filing. Hedge funds and other institutional investors own 33.95% of the company’s stock.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets started coverage on shares of GRI Bio in a research note on Tuesday, October 8th. They set a “buy” rating and a $12.00 price target for the company.

Read Our Latest Research Report on GRI

GRI Bio Stock Up 3.5 %

Shares of NASDAQ:GRI traded up 0.03 during midday trading on Wednesday, reaching 0.88. The company’s stock had a trading volume of 380,600 shares, compared to its average volume of 1,444,655. GRI Bio has a 12-month low of 0.30 and a 12-month high of 113.90. The firm has a 50 day moving average of 0.60 and a 200-day moving average of 1.86.

GRI Bio (NASDAQ:GRI – Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported -4.92 earnings per share for the quarter.

GRI Bio Company Profile

(Get Free Report)

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.

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