GRI Bio (NASDAQ:GRI) Shares Scheduled to Reverse Split on Monday, January 26th

GRI Bio, Inc. (NASDAQ:GRI) shares are set to reverse split on Monday, January 26th. The 1-28 reverse split was announced on Wednesday, January 21st. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, January 23rd.

GRI Bio Stock Performance

Shares of NASDAQ GRI traded down $0.03 during mid-day trading on Thursday, reaching $0.20. The company had a trading volume of 3,986,304 shares, compared to its average volume of 2,932,958. GRI Bio has a one year low of $0.18 and a one year high of $11.90. The firm has a market cap of $641,377.80, a price-to-earnings ratio of -0.02 and a beta of -1.39. The business’s 50-day simple moving average is $0.89 and its 200 day simple moving average is $1.44.

GRI Bio (NASDAQ:GRI) last issued its quarterly earnings results on Friday, November 14th. The company reported ($1.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.11) by ($0.17). On average, sell-side analysts anticipate that GRI Bio will post -3.04 EPS for the current year.

Analyst Upgrades and Downgrades

GRI has been the subject of several research reports. Ascendiant Capital Markets increased their target price on GRI Bio from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, December 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of GRI Bio in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, GRI Bio presently has an average rating of “Hold” and a consensus target price of $23.00.

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.