GRI Bio, Inc. (NASDAQ:GRI) Stock Short Interest Falls 40.7%

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of GRI Bio in a research report on Friday, July 17th. HC Wainwright restated a “buy” rating on shares of GRI Bio in a research note on Tuesday. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $21.00.

GRI Bio Price Performance

NASDAQ:GRI opened at $1.40 on Thursday. GRI Bio has a 1-year low of $1.36 and a 1-year high of $64.12. The firm has a fifty day simple moving average of $1.90 and a 200 day simple moving average of $1.99.

GRI Bio (NASDAQ:GRI) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $0.28. As a group, equities research analysts predict that GRI Bio will post -3.75 earnings per share for the current fiscal 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.