GRI Bio, Inc. (NASDAQ:GRI) Short Interest Down 21.9% in March
by Michael Walen · The Markets DailyGRI Bio, Inc. (NASDAQ:GRI – Get Free Report) was the target of a large decline in short interest in the month of 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. Approximately 8.0% of the shares of the company are short sold. Based on an average daily trading volume, of 47,066 shares, the days-to-cover ratio is currently 2.2 days.
GRI Bio Trading Down 0.9%
Shares of GRI Bio stock traded down $0.02 during trading hours on Monday, reaching $2.26. The stock had a trading volume of 23,374 shares, compared to its average volume of 365,175. The stock’s 50 day moving average is $3.02 and its 200 day moving average is $26.95. The firm has a market capitalization of $3.27 million, a PE ratio of -0.01 and a beta of -1.38. GRI Bio has a twelve month low of $2.10 and a twelve month high of $311.36.
GRI Bio (NASDAQ:GRI – Get Free Report) last posted its earnings results on Friday, January 30th. The company reported $23.52 earnings per share (EPS) for the quarter. As a group, sell-side analysts predict that GRI Bio will post -3.04 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several analysts recently commented on GRI shares. Wall Street Zen lowered GRI Bio to a “strong sell” rating in a report on Saturday, January 31st. Ascendiant Capital Markets upped their price objective on GRI Bio from $980.00 to $1,008.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of GRI Bio in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, GRI Bio presently has a consensus rating of “Hold” and a consensus price target of $644.00.
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About GRI Bio
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.