GRI Bio Stock to Reverse Split on Monday, February 24th (NASDAQ:GRI)

GRI Bio, Inc. (NASDAQ:GRI) shares are set to reverse split on Monday, February 24th. The 1-17 reverse split was announced on Wednesday, February 19th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, February 21st.

GRI Bio Stock Performance

Shares of GRI stock opened at $0.53 on Thursday. GRI Bio has a 1 year low of $0.30 and a 1 year high of $13.72. The firm has a market capitalization of $4.73 million, a PE ratio of -0.78 and a beta of -2.15. The stock has a fifty day moving average of $0.70 and a two-hundred day moving average of $0.64.

Analyst Ratings Changes

GRI has been the subject of several research analyst reports. Ascendiant Capital Markets upped their price objective on shares of GRI Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. HC Wainwright began coverage on shares of GRI Bio in a research note on Monday, December 9th. They issued a “buy” rating and a $10.00 price target for the company.

Institutional Trading of GRI Bio

An institutional investor recently raised its position in GRI Bio stock. Geode Capital Management LLC increased its position in shares of GRI Bio, Inc. (NASDAQ:GRI) by 543.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,182 shares of the company’s stock after acquiring an additional 64,335 shares during the period. Geode Capital Management LLC owned approximately 0.85% of GRI Bio worth $63,000 at the end of the most recent quarter. 33.95% of the stock is currently owned by institutional investors.

GRI Bio Company Profile

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.