GRI Bio (NASDAQ:GRI) Shares Up 6.5% – Here’s Why
by Michael Walen · The Markets DailyShares of GRI Bio, Inc. (NASDAQ:GRI – Get Free Report) rose 6.5% on Thursday . The company traded as high as $1.99 and last traded at $1.96. 87,710 shares changed hands during trading, a decline of 24% from the average daily volume of 116,027 shares. The stock had previously closed at $1.84.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Ascendiant Capital Markets lowered their price target on shares of GRI Bio from $40.00 to $32.00 and set a “buy” rating for the company in a report on Monday, June 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $32.00.
GRI Bio Price Performance
The company has a market capitalization of $3.47 million, a price-to-earnings ratio of -0.03 and a beta of -1.17. The firm has a 50-day moving average price of $2.20 and a two-hundred day moving average price of $4.51.
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 (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.01). On average, equities analysts predict that GRI Bio, Inc. will post -4.77 EPS for the current 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.