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

GRI Bio, Inc. (NASDAQ:GRI)’s stock price rose 2.1% during trading on Friday . The stock traded as high as $0.73 and last traded at $0.72. Approximately 95,239 shares traded 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.

Analyst Upgrades and Downgrades

GRI has been the topic of several recent analyst reports. HC Wainwright initiated coverage on shares of GRI Bio in a research note on Monday, December 9th. They issued a “buy” rating and a $10.00 target price on the stock. Ascendiant Capital Markets lifted their price target on GRI Bio from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, December 5th.

GRI Bio Stock Up 2.1 %

The stock has a fifty day moving average of $0.77 and a 200-day moving average of $0.78.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in GRI Bio stock. Armistice Capital LLC acquired a new position in shares of GRI Bio, Inc. (NASDAQ:GRI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 50,207 shares of the company’s stock, valued at approximately $96,000. Armistice Capital LLC owned about 9.23% of GRI Bio at the end of the most recent quarter. 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.