GRI Bio, Inc. (NASDAQ:GRI) Sees Significant Decline in Short Interest

GRI Bio, Inc. (NASDAQ:GRI) saw a large drop in short interest in the month of November. As of November 15th, there was short interest totalling 206,000 shares, a drop of 77.7% from the October 31st total of 924,600 shares. Based on an average daily volume of 4,380,000 shares, the days-to-cover ratio is currently 0.0 days. Currently, 2.3% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

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

GRI Bio Trading Down 10.1 %

Shares of NASDAQ:GRI traded down 0.08 during trading hours on Friday, hitting 0.68. The company’s stock had a trading volume of 246,000 shares, compared to its average volume of 1,392,860. The firm’s fifty day moving average price is 0.66 and its 200 day moving average price is 1.50. GRI Bio has a 52 week low of 0.30 and a 52 week high of 106.32.

Hedge Funds Weigh In On GRI Bio

An institutional investor recently bought a new position in GRI Bio stock. Armistice Capital LLC acquired a new stake in shares of GRI Bio, Inc. (NASDAQ:GRI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 50,207 shares of the company’s stock, valued at approximately $96,000. Armistice Capital LLC owned approximately 9.23% of GRI Bio at the end of the most recent reporting period. Institutional investors and hedge funds own 33.95% of the company’s stock.

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.