GRI Bio, Inc. (NASDAQ:GRI) Sees Large Growth in Short Interest

GRI Bio, Inc. (NASDAQ:GRI) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 65,900 shares, an increase of 239.7% from the March 15th total of 19,400 shares. Based on an average daily volume of 279,100 shares, the days-to-cover ratio is currently 0.2 days. Approximately 9.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in GRI Bio stock. Virtu Financial LLC purchased a new stake in shares of GRI Bio, Inc. (NASDAQ:GRI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,381 shares of the company’s stock, valued at approximately $25,000. Virtu Financial LLC owned about 0.34% of GRI Bio as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 33.95% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and set a $10.00 target price on shares of GRI Bio in a research report on Monday.

GRI Bio Trading Down 2.5 %

Shares of NASDAQ GRI traded down $0.04 during mid-day trading on Wednesday, reaching $1.53. 160,061 shares of the company’s stock were exchanged, compared to its average volume of 271,464. GRI Bio has a twelve month low of $1.10 and a twelve month high of $130.39. The firm has a market capitalization of $803,250.00, a price-to-earnings ratio of -0.13 and a beta of -1.72. The business has a fifty day simple moving average of $5.72 and a 200 day simple moving average of $9.87.

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.