GRI Bio’s (GRI) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of GRI Bio (NASDAQ:GRI) in a report released on Monday morning,Benzinga reports. They currently have a $10.00 price objective on the stock.

GRI Bio Trading Up 13.5 %

NASDAQ:GRI opened at $1.51 on Monday. The company has a 50-day moving average price of $5.85 and a 200-day moving average price of $9.93. The stock has a market cap of $792,750.00, a price-to-earnings ratio of -0.13 and a beta of -1.72. GRI Bio has a 12 month low of $1.10 and a 12 month high of $130.39.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in GRI Bio stock. Virtu Financial LLC purchased a new position in GRI Bio, Inc. (NASDAQ:GRI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 30,381 shares of the company’s stock, valued at approximately $25,000. Virtu Financial LLC owned approximately 0.34% of GRI Bio as of its most recent SEC filing. Hedge funds and other institutional investors own 33.95% of the company’s stock.

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.