GRI Bio, Inc. (NASDAQ:GRI – Get Free Report) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 69,429 shares, a drop of 40.7% from the September 15th total of 117,104 shares. Based on an average daily trading volume, of 98,510 shares, the short-interest ratio is presently 0.7 days. Approximately 3.2% of the shares of the company are short sold.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on GRI shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a report on Thursday. HC Wainwright reissued a “buy” rating on shares of GRI Bio in a research report on Tuesday. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, GRI Bio presently has a consensus rating of “Hold” and a consensus target price of $21.00.
Get Our Latest Research Report on GRI
GRI Bio Stock Performance
Shares of NASDAQ GRI traded down $0.02 during midday trading on Friday, hitting $1.38. The company’s stock had a trading volume of 44,344 shares, compared to its average volume of 252,011. GRI Bio has a 1-year low of $1.36 and a 1-year high of $64.12. The firm’s fifty day moving average price is $1.90 and its 200-day moving average price is $1.98. The firm has a market cap of $3.02 million, a P/E ratio of -0.04 and a beta of -1.21.
GRI Bio (NASDAQ:GRI – Get Free Report) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.91) earnings per share for the quarter, topping the consensus estimate of ($1.19) by $0.28. As a group, research analysts predict that GRI Bio will post -3.75 earnings per share for the current fiscal year.
About GRI Bio
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.
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