GRI Bio (NASDAQ:GRI) Trading Down 4.9% – What’s Next?

GRI Bio, Inc. (NASDAQ:GRI)’s stock price traded down 4.9% during trading on Thursday . The stock traded as low as $1.53 and last traded at $1.54. Approximately 14,854 shares were traded during trading, a decline of 81% from the average daily volume of 78,289 shares. The stock had previously closed at $1.62.

Analysts Set New Price Targets

Several research firms have issued reports on GRI. Weiss Ratings restated a “sell (e+)” rating on shares of GRI Bio in a research report on Tuesday, April 21st. Ascendiant Capital Markets cut their price objective on shares of GRI Bio from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, June 1st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $32.00.

GRI Bio Trading Down 2.6%

The company has a market cap of $2.65 million, a price-to-earnings ratio of -0.02 and a beta of -1.21. The company has a fifty day moving average price of $1.99 and a two-hundred day moving average price of $2.98.

GRI Bio (NASDAQ:GRI) last issued its earnings results on Wednesday, May 13th. The company reported ($1.61) EPS 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.