GRI Bio Stock Set to Reverse Split on Monday, January 26th (NASDAQ:GRI)

GRI Bio, Inc. (NASDAQ:GRI) shares are going to reverse split on the morning of Monday, January 26th. The 1-28 reverse split was announced on Wednesday, January 21st. The number of shares owned by shareholders will be adjusted after the market closes on Friday, January 23rd.

GRI Bio Trading Down 12.0%

Shares of GRI Bio stock traded down $0.03 during trading on Thursday, reaching $0.20. The stock had a trading volume of 3,986,304 shares, compared to its average volume of 2,932,958. The company has a market capitalization of $641,377.80, a price-to-earnings ratio of -0.02 and a beta of -1.39. The stock has a fifty day moving average price of $0.89 and a two-hundred day moving average price of $1.44. GRI Bio has a 52 week low of $0.18 and a 52 week high of $11.90.

GRI Bio (NASDAQ:GRI) last posted its quarterly earnings data on Friday, November 14th. The company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.17). On average, equities analysts forecast that GRI Bio will post -3.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

GRI has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a research note on Wednesday, October 8th. Ascendiant Capital Markets upped their price objective on GRI Bio from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, December 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.00.

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.