GRI Bio (NASDAQ:GRI) Announces Quarterly Earnings Results

GRI Bio (NASDAQ:GRI) posted its earnings results on Friday. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.15, FiscalAI reports.

GRI Bio Price Performance

NASDAQ:GRI traded down $0.12 during mid-day trading on Friday, hitting $1.70. 21,797 shares of the company’s stock were exchanged, compared to its average volume of 47,841. GRI Bio has a one year low of $1.36 and a one year high of $64.12. The business has a fifty day moving average price of $1.77 and a 200 day moving average price of $2.06. The company has a market cap of $3.72 million, a PE ratio of -0.04 and a beta of -1.13.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GRI. HC Wainwright reissued a “buy” rating on shares of GRI Bio in a research report on Tuesday, October 13th. Weiss Ratings restated a “sell (e+)” rating on shares of GRI Bio in a research report on Thursday, October 15th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, GRI Bio presently has an average rating of “Hold” and an average price target of $21.00.

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.