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

GRI Bio, Inc. (NASDAQ:GRI) 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) 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.

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) last issued its earnings results on Tuesday, August 13th. The company reported -4.92 earnings per share for the quarter.

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.