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

Shares of GRI Bio, Inc. (NASDAQ:GRI) are set to reverse split before the market opens on 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 Stock Performance

GRI Bio stock traded down $0.03 during mid-day trading on Thursday, hitting $0.20. 3,986,304 shares of the company traded hands, compared to its average volume of 2,932,958. GRI Bio has a one year low of $0.18 and a one year high of $11.90. The stock has a market cap 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 200-day moving average price of $1.44.

GRI Bio (NASDAQ:GRI) last issued its quarterly earnings results on Friday, November 14th. The company reported ($1.28) EPS for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.17). Sell-side analysts predict that GRI Bio will post -3.04 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GRI. Ascendiant Capital Markets increased their price objective on GRI Bio from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.