GRI Bio (NASDAQ:GRI) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS

GRI Bio (NASDAQ:GRI) announced its quarterly earnings results on Friday. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.15, FiscalAI reports.

GRI Bio Stock Performance

NASDAQ:GRI traded down $0.12 during mid-day trading on Friday, hitting $1.70. 21,797 shares of the company’s stock traded hands, compared to its average volume of 233,258. The firm’s 50 day simple moving average is $1.78 and its 200 day simple moving average is $2.08. GRI Bio has a 1 year low of $1.36 and a 1 year high of $64.12. The company has a market cap of $3.72 million, a PE ratio of -0.04 and a beta of -1.13.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GRI shares. HC Wainwright reaffirmed a “buy” rating on shares of GRI Bio in a research note on Tuesday, October 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of GRI Bio in a research report on Thursday, October 15th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.00.

GRI Bio Company Profile

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.