GRI Bio (NASDAQ:GRI) Shares Up 6.5% – Here’s Why
by Teresa Graham · The Cerbat GemShares of GRI Bio, Inc. (NASDAQ:GRI – Get Free Report) shot up 6.5% during trading on Thursday . The stock traded as high as $1.99 and last traded at $1.96. 87,710 shares were traded during trading, a decline of 24% from the average session volume of 116,027 shares. The stock had previously closed at $1.84.
Analyst Ratings Changes
GRI has been the topic of several recent analyst reports. Ascendiant Capital Markets lowered their target price on shares of GRI Bio from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. Weiss Ratings restated a “sell (e+)” rating on shares of GRI Bio in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $32.00.
View Our Latest Stock Report on GRI Bio
GRI Bio Stock Performance
The stock has a market cap of $3.22 million, a price-to-earnings ratio of -0.02 and a beta of -1.17. The business’s 50 day moving average is $2.19 and its 200-day moving average is $4.50.
GRI Bio (NASDAQ:GRI – Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($1.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.01). Sell-side analysts anticipate that GRI Bio, Inc. will post -4.77 EPS for the current fiscal year.
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.