GRI Bio (NASDAQ:GRI) Issues Quarterly Earnings Results

GRI Bio (NASDAQ:GRI) issued its quarterly earnings results on Friday. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.15, FiscalAI reports.

GRI Bio Price Performance

Shares of GRI Bio stock traded down $0.12 on Friday, hitting $1.70. 21,797 shares of the company’s stock traded hands, compared to its average volume of 47,841. GRI Bio has a one year low of $1.36 and a one year high of $64.12. The company has a fifty day moving average of $1.77 and a two-hundred day moving average of $2.06. The company has a market capitalization of $3.72 million, a price-to-earnings ratio of -0.04 and a beta of -1.13.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GRI. HC Wainwright reaffirmed a “buy” rating on shares of GRI Bio in a research note on Tuesday, October 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of GRI Bio in a research note on Thursday, October 15th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price 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.