GRI Bio (NASDAQ:GRI) Trading Up 2.1% – What’s Next?

GRI Bio, Inc. (NASDAQ:GRI) was up 2.1% during trading on Friday . The company traded as high as $0.73 and last traded at $0.72. Approximately 95,239 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 180,878 shares. The stock had previously closed at $0.71.

Wall Street Analyst Weigh In

Several research firms recently commented on GRI. HC Wainwright started coverage on shares of GRI Bio in a research note on Monday, December 9th. They set a “buy” rating and a $10.00 target price for the company. Ascendiant Capital Markets lifted their target price on GRI Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, December 5th.

GRI Bio Stock Up 2.1 %

The firm’s fifty day simple moving average is $0.77 and its 200 day simple moving average is $0.77.

Institutional Inflows and Outflows

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

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.