GRI Bio (NASDAQ:GRI) Stock Price Down 2.6% – What’s Next?

GRI Bio, Inc. (NASDAQ:GRI) dropped 2.6% on Monday. The stock traded as low as $1.88 and last traded at $1.91. Approximately 84,585 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 131,646 shares. The stock had previously closed at $1.96.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a research note on Friday, July 17th. HC Wainwright restated a “buy” rating and issued a $10.00 target price on shares of GRI Bio in a research note on Thursday, September 10th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, GRI Bio currently has an average rating of “Hold” and an average price target of $21.00.

GRI Bio Stock Performance

The business’s 50-day moving average price is $1.88 and its 200 day moving average price is $2.02. The stock has a market capitalization of $4.12 million, a PE ratio of -0.05 and a beta of -1.21.

GRI Bio (NASDAQ:GRI) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.91) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.28. As a group, equities research analysts predict that GRI Bio, Inc. will post -3.75 earnings per share for the current year.

GRI Bio Company Profile

GRI Bio, Inc (NASDAQ: GRI) is a clinical-stage biotechnology company focused on developing therapies for inflammatory, fibrotic and autoimmune diseases. The company’s research centers on natural killer T (NKT) cells, immune cells that can contribute to inflammation and tissue damage when activated.

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