GRI Bio, Inc. (NASDAQ:GRI) Short Interest Down 77.7% in November

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in GRI Bio stock. Armistice Capital LLC acquired a new stake in GRI Bio, Inc. (NASDAQ:GRI) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund 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 quarter. Institutional investors and hedge funds own 33.95% of the company’s stock.

Wall Street Analyst Weigh In

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

GRI Bio Stock Up 3.7 %

GRI traded up 0.03 during trading on Wednesday, hitting 0.76. The company’s stock had a trading volume of 175,200 shares, compared to its average volume of 1,397,846. The stock has a market capitalization of $6.79 million, a price-to-earnings ratio of -0.29 and a beta of -2.04. The firm’s 50 day moving average price is 0.65 and its two-hundred day moving average price is 1.53. GRI Bio has a 12 month low of 0.30 and a 12 month high of 106.32.

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.