GRI Bio (NASDAQ:GRI) Announces Earnings Results

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

GRI Bio Stock Down 6.6%

GRI stock traded down $0.12 during mid-day trading on Friday, hitting $1.70. The company had a trading volume of 21,797 shares, compared to its average volume of 233,258. The company has a market capitalization of $3.72 million, a price-to-earnings ratio of -0.04 and a beta of -1.13. GRI Bio has a 12-month low of $1.36 and a 12-month high of $64.12. The company has a 50-day moving average price of $1.78 and a 200 day moving average price of $2.08.

Analysts Set New Price Targets

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