GRI Bio (NASDAQ:GRI) Stock Jumps 8.4% – Should You Buy?

GRI Bio, Inc. (NASDAQ:GRI)’s stock price was up 8.4% during trading on Thursday. The company traded as high as $1.67 and last traded at $1.55. 128,834 shares were traded during trading, an increase of 206% from the average daily volume of 42,037 shares. The stock had previously closed at $1.43.

Wall Street Analyst Weigh In

GRI has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating on shares of GRI Bio in a report on Tuesday, October 13th. Weiss Ratings restated a “sell (e+)” rating on shares of GRI Bio in a research note on Thursday, October 15th. Two research 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 has an average rating of “Hold” and a consensus target price of $21.00.

GRI Bio Stock Up 8.4%

The firm’s 50 day moving average is $1.79 and its two-hundred day moving average is $2.18. The stock has a market cap of $3.39 million, a price-to-earnings ratio of -0.04 and a beta of -1.13.

GRI Bio (NASDAQ:GRI) last issued its earnings results on Friday, August 14th. The company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.28. On average, analysts anticipate that GRI Bio, Inc. will post -3.75 EPS for the current fiscal year.

About GRI Bio

GRI Bio, Inc (NASDAQ: GRI) is a clinical-stage biotechnology company focused on developing therapies that modulate natural killer T (NKT) cells. NKT cells are immune cells involved in regulating inflammation and immune responses, and the company is researching their potential role in autoimmune, inflammatory, and fibrotic diseases.

GRI Bio’s lead product candidate is GRI-0621, an orally administered small-molecule inhibitor designed to selectively modulate type I NKT cells. The company has been evaluating GRI-0621 as a potential treatment for idiopathic pulmonary fibrosis, a progressive lung disease characterized by scarring and impaired respiratory function.