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

GRI Bio, Inc. (NASDAQ:GRI) shares are scheduled 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 Down 12.0%

GRI Bio stock traded down $0.03 during midday trading on Thursday, reaching $0.20. 3,986,304 shares of the stock traded hands, compared to its average volume of 2,932,958. The stock has a market cap of $641,377.80, a P/E ratio of -0.02 and a beta of -1.39. The stock’s fifty day moving average is $0.89 and its 200-day moving average is $1.44. GRI Bio has a 12 month low of $0.18 and a 12 month high of $11.90.

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

Analyst Ratings Changes

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