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

GRI Bio, Inc. (NASDAQ:GRI) was the recipient of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 135,157 shares, a drop of 13.6% from the February 12th total of 156,438 shares. Based on an average daily volume of 59,653 shares, the days-to-cover ratio is presently 2.3 days. Approximately 10.2% of the company’s shares are sold short. Approximately 10.2% of the company’s shares are sold short. Based on an average daily volume of 59,653 shares, the days-to-cover ratio is presently 2.3 days.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GRI Bio in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of GRI Bio to a “strong sell” rating in a report on Saturday, January 31st. Finally, Ascendiant Capital Markets upped their price target on shares of GRI Bio from $980.00 to $1,008.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, GRI Bio currently has an average rating of “Hold” and an average price target of $644.00.

GRI Bio Price Performance

NASDAQ GRI traded up $0.02 during trading on Tuesday, hitting $2.57. 25,743 shares of the company’s stock traded hands, compared to its average volume of 423,563. The stock has a fifty day moving average of $3.85 and a two-hundred day moving average of $29.45. GRI Bio has a 12-month low of $2.10 and a 12-month high of $311.36. The firm has a market cap of $3.73 million, a P/E ratio of -0.01 and a beta of -1.38.

GRI Bio (NASDAQ:GRI) last released its quarterly earnings data on Friday, January 30th. The company reported $23.52 EPS for the quarter. As a group, analysts expect that GRI Bio will post -3.04 earnings per share for the current fiscal year.

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.