GRI Bio (NASDAQ:GRI) Now Covered by Ascendiant Capital Markets

Ascendiant Capital Markets initiated coverage on shares of GRI Bio (NASDAQ:GRI) in a report published on Tuesday morning, MarketBeat reports. The firm issued a buy rating and a $12.00 price objective on the stock.

GRI Bio Stock Down 10.9 %

Shares of GRI Bio stock opened at 0.38 on Tuesday. GRI Bio has a 52-week low of 0.30 and a 52-week high of 154.70. The company has a fifty day moving average of 0.48 and a 200-day moving average of 3.01.

GRI Bio (NASDAQ:GRI) last posted its quarterly earnings results on Tuesday, August 13th. The company reported -4.92 earnings per share for the quarter.

Institutional Trading of GRI Bio

A hedge fund recently bought a new stake in GRI Bio stock. Armistice Capital LLC acquired a new position in GRI Bio, Inc. (NASDAQ:GRI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 50,207 shares of the company’s stock, valued at approximately $96,000. Armistice Capital LLC owned 9.23% of GRI Bio as of its most recent filing with the Securities and Exchange Commission. 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.