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

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

Analyst Ratings Changes

Several analysts have recently weighed in on GRI shares. HC Wainwright reissued a “buy” rating on shares of GRI Bio in a report on Tuesday. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.00.

GRI Bio Stock Down 1.4%

GRI stock traded down $0.02 during trading on Friday, hitting $1.38. The company had a trading volume of 44,344 shares, compared to its average volume of 67,284. The firm has a market cap of $3.02 million, a PE ratio of -0.04 and a beta of -1.21. GRI Bio has a 1-year low of $1.36 and a 1-year high of $64.12. The firm has a 50-day moving average price of $1.90 and a 200-day moving average price of $1.98.

GRI Bio (NASDAQ:GRI) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.91) EPS for the quarter, beating the consensus estimate of ($1.19) by $0.28. Sell-side analysts anticipate that GRI Bio will post -3.75 earnings per share 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.