GRI Bio, Inc. (NASDAQ:GRI) Stock Short Interest Falls 40.7%

GRI Bio, Inc. (NASDAQ:GRI) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 69,429 shares, a decrease of 40.7% from the September 15th total of 117,104 shares. Currently, 3.2% of the company’s stock are sold short. Based on an average daily trading volume, of 98,510 shares, the short-interest ratio is presently 0.7 days.

Analysts Set New Price Targets

A number of research firms recently issued reports on GRI. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a report on Friday, July 17th. HC Wainwright reissued a “buy” rating on shares of GRI Bio in a research report on Tuesday. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, GRI Bio currently has an average rating of “Hold” and a consensus price target of $21.00.

GRI Bio Price Performance

Shares of GRI stock opened at $1.40 on Thursday. The company’s fifty day simple moving average is $1.90 and its 200-day simple moving average is $1.99. GRI Bio has a 12 month low of $1.36 and a 12 month high of $64.12.

GRI Bio (NASDAQ:GRI) last announced its earnings results on Friday, August 14th. The company reported ($0.91) EPS for the quarter, topping the consensus estimate of ($1.19) by $0.28. As a group, sell-side analysts forecast that GRI Bio will post -3.75 EPS for the current year.

GRI Bio Company Profile

GRI Bio, Inc is a clinical-stage biotechnology company focused on developing therapies for inflammatory, fibrotic and autoimmune diseases. The company’s research is centered on natural killer T (NKT) cells, immune cells that can contribute to the development and progression of chronic inflammation and tissue fibrosis.

GRI Bio’s pipeline includes small-molecule drug candidates designed to modulate NKT-cell activity. Its lead program, GRI-0621, is being developed as an orally administered treatment for idiopathic pulmonary fibrosis, a chronic lung disease characterized by progressive scarring.