GRI Bio (NASDAQ:GRI) Shares Break Above 50 Day Moving Average – What’s Next?

Shares of 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 trading hands.

Analysts Set New Price Targets

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

GRI Bio Stock Performance

The stock has a fifty day simple moving average of $1.79 and a two-hundred day simple moving average of $2.16. The stock has a market cap of $4.12 million, a price-to-earnings ratio of -0.05 and a beta of -1.13.

GRI Bio (NASDAQ:GRI) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.91) earnings per share for the quarter, beating the consensus estimate of ($1.19) by $0.28. Equities analysts expect that GRI Bio, Inc. will post -3.75 earnings per share 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.