GRI Bio (NASDAQ:GRI) Trading Down 4.9% – Here’s What Happened

Shares of GRI Bio, Inc. (NASDAQ:GRI – Get Free Report) traded down 4.9% on Thursday . The company traded as low as $1.53 and last traded at $1.54. Approximately 14,854 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 78,289 shares. The stock had previously closed at $1.62.

Analyst Upgrades and Downgrades

GRI has been the subject of a number of research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GRI Bio in a report on Tuesday, April 21st. Ascendiant Capital Markets reduced their price target 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 equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, GRI Bio currently has an average rating of “Hold” and an average price target of $32.00.

Get GRI Bio alerts:

View Our Latest Research Report on GRI Bio

GRI Bio Trading Down 4.9%

The firm has a 50-day simple moving average of $2.00 and a two-hundred day simple moving average of $2.99. The company has a market capitalization of $2.73 million, a price-to-earnings ratio of -0.02 and a beta of -1.21.

GRI Bio (NASDAQ:GRI – Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.60) by ($0.01). Equities research analysts anticipate that GRI Bio, Inc. will post -4.77 EPS for the current year.

GRI Bio Company Profile

(Get Free Report)

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.

Further Reading

• Five stocks we like better than GRI Bio
• Why Abbott Laboratories Stock Is Suddenly Winning Back Wall Street
• Revving Up Returns: Big Banks Race Through the Rate Plateau
• Why Uber’s Biggest Deal Yet Could Unlock Its Next Growth Phase
• Why Microsoft Is Playing a Different AI Game Than Big Tech—and Cash Flow Is the Test

Receive News & Ratings for GRI Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GRI Bio and related companies with MarketBeat.com's FREE daily email newsletter.