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

GRI Bio, Inc. (NASDAQ:GRI) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 206,000 shares, a drop of 77.7% from the October 31st total of 924,600 shares. Currently, 2.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,380,000 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Investors Weigh In On GRI Bio

A hedge fund recently bought a new stake in GRI Bio stock. Armistice Capital LLC acquired a new stake in shares of GRI Bio, Inc. (NASDAQ:GRI) in the second quarter, according to the company in its most recent filing with the SEC. The firm 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 reporting period. 33.95% of the stock is currently owned by institutional investors.

GRI Bio Trading Down 10.1 %

GRI stock traded down 0.08 during mid-day trading on Friday, reaching 0.68. 246,000 shares of the stock traded hands, compared to its average volume of 1,392,860. GRI Bio has a one year low of 0.30 and a one year high of 106.32. The business has a 50-day moving average price of 0.66 and a two-hundred day moving average price of 1.50.

Analyst Upgrades and Downgrades

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

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.