GRI Bio (NASDAQ:GRI) Shares Down 4.9% – What’s Next?

GRI Bio, Inc. (NASDAQ:GRI) was down 4.9% during mid-day trading on Thursday . The company traded as low as $1.53 and last traded at $1.54. Approximately 14,854 shares changed hands during trading, a decline of 81% from the average daily volume of 78,289 shares. The stock had previously closed at $1.62.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GRI. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of GRI Bio in a report on Tuesday, April 21st. Ascendiant Capital Markets dropped their target price on GRI Bio from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.00.

GRI Bio Stock Down 4.9%

The firm has a market capitalization of $2.73 million, a PE ratio of -0.02 and a beta of -1.21. The stock has a 50-day moving average price of $2.00 and a 200 day moving average price of $2.99.

GRI Bio (NASDAQ:GRI) last announced its earnings results on Wednesday, May 13th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.60) by ($0.01). As a group, equities analysts predict that GRI Bio, Inc. will post -4.77 earnings per share for the current fiscal year.

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.