GRI Bio, Inc. (NASDAQ:GRI) Short Interest Update

GRI Bio, Inc. (NASDAQ:GRI) saw a significant decline in short interest in March. As of March 13th, there was short interest totaling 105,615 shares, a decline of 21.9% from the February 26th total of 135,157 shares. Based on an average trading volume of 47,066 shares, the short-interest ratio is presently 2.2 days. Approximately 8.0% of the shares of the stock are short sold.

GRI Bio Trading Down 0.9%

NASDAQ GRI opened at $2.28 on Friday. The stock has a market cap of $3.31 million, a P/E ratio of -0.01 and a beta of -1.38. GRI Bio has a 12 month low of $2.10 and a 12 month high of $311.36. The stock’s fifty day moving average price is $3.02 and its 200-day moving average price is $27.07.

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

Analyst Upgrades and Downgrades

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

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.