GRI Bio (NASDAQ:GRI) Announces Earnings Results, Beats Expectations By $0.15 EPS

GRI Bio (NASDAQ:GRI) announced its earnings results on Friday. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.15, FiscalAI reports.

GRI Bio Trading Down 6.6%

Shares of GRI Bio stock traded down $0.12 during mid-day trading on Friday, hitting $1.70. 21,797 shares of the stock were exchanged, compared to its average volume of 233,258. The stock has a market capitalization of $3.72 million, a price-to-earnings ratio of -0.04 and a beta of -1.13. GRI Bio has a twelve month low of $1.36 and a twelve month high of $64.12. The company has a 50-day simple moving average of $1.78 and a 200 day simple moving average of $2.08.

Wall Street Analyst Weigh In

Several research firms have weighed in on GRI. Weiss Ratings reissued a “sell (e+)” rating on shares of GRI Bio in a research report on Thursday, October 15th. HC Wainwright restated a “buy” rating on shares of GRI Bio in a research report on Tuesday, October 13th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.00.

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.