GRI Bio (NASDAQ:GRI) Stock Price Up 8.4% – What’s Next?

GRI Bio, Inc. (NASDAQ:GRI)’s share price shot up 8.4% during mid-day trading on Thursday. The stock traded as high as $1.67 and last traded at $1.55. Approximately 128,834 shares changed hands during mid-day trading, an increase of 206% from the average session volume of 42,037 shares. The stock had previously closed at $1.43.

Analyst Upgrades and Downgrades

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

GRI Bio Trading Up 8.4%

The company has a market capitalization of $3.39 million, a price-to-earnings ratio of -0.04 and a beta of -1.13. The stock has a 50-day simple moving average of $1.79 and a 200-day simple moving average of $2.18.

GRI Bio (NASDAQ:GRI) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.91) EPS for the quarter, beating analysts’ consensus estimates of ($1.19) by $0.28. On average, research analysts forecast that GRI Bio, Inc. will post -3.75 EPS for the current year.

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.