GRI Bio’s (GRI) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of GRI Bio (NASDAQ:GRI) in a research report report published on Monday,Benzinga reports. HC Wainwright currently has a $10.00 target price on the stock. HC Wainwright also issued estimates for GRI Bio’s FY2025 earnings at ($1.10) EPS, FY2026 earnings at ($0.51) EPS, FY2027 earnings at ($0.29) EPS and FY2028 earnings at ($0.23) EPS.

GRI Bio Stock Performance

Shares of GRI opened at $1.53 on Monday. GRI Bio has a 1 year low of $1.10 and a 1 year high of $130.39. The company’s 50-day simple moving average is $5.58 and its 200-day simple moving average is $9.82. The stock has a market capitalization of $803,250.00, a PE ratio of -0.13 and a beta of -1.72.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GRI Bio stock. Geode Capital Management LLC raised its holdings in GRI Bio, Inc. (NASDAQ:GRI) by 543.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,182 shares of the company’s stock after buying an additional 64,335 shares during the period. Geode Capital Management LLC owned about 0.85% of GRI Bio worth $63,000 as of its most recent SEC filing. 33.95% of the stock is owned by institutional investors and hedge funds.

About GRI Bio

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.