GRI Bio (NASDAQ:GRI) Stock Price Up 2.1% – Still a Buy?

Posted by Karen Miller on Jan 18th, 2025

GRI Bio, Inc. (NASDAQ:GRI – Get Free Report)’s stock price shot up 2.1% during trading on Friday . The company traded as high as $0.73 and last traded at $0.72. 95,239 shares were traded during mid-day trading, a decline of 47% from the average session volume of 180,878 shares. The stock had previously closed at $0.71.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GRI. HC Wainwright initiated coverage on shares of GRI Bio in a research report on Monday, December 9th. They issued a “buy” rating and a $10.00 price target on the stock. Ascendiant Capital Markets raised their price objective on shares of GRI Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th.

View Our Latest Research Report on GRI

GRI Bio Price Performance

The firm’s 50 day moving average price is $0.77 and its 200-day moving average price is $0.78.

Institutional Investors Weigh In On GRI Bio

An institutional investor recently bought a new position in GRI Bio stock. Armistice Capital LLC purchased a new position in shares of GRI Bio, Inc. (NASDAQ:GRI – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 50,207 shares of the company’s stock, valued at approximately $96,000. Armistice Capital LLC owned approximately 9.23% of GRI Bio at the end of the most recent reporting period. 33.95% of the stock is owned by institutional investors.

GRI Bio Company Profile

(Get Free Report)

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.