GRI Bio (NASDAQ:GRI) Share Price Breaks Above 50-Day Moving Average – Time to Sell?

GRI Bio, Inc. (NASDAQ:GRI) passed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $1.79 and traded as high as $1.9399. GRI Bio shares last traded at $1.88, with a volume of 43,767 shares changing hands.

Analysts Set New Price Targets

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

GRI Bio Stock Performance

The stock has a market capitalization of $4.12 million, a P/E ratio of -0.05 and a beta of -1.13. The business has a 50 day simple moving average of $1.79 and a 200-day simple moving average of $2.16.

GRI Bio (NASDAQ:GRI) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.91) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.19) by $0.28. Equities research analysts forecast that GRI Bio, Inc. will post -3.75 EPS for the current fiscal year.

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.