GRI Bio (NASDAQ:GRI) Coverage Initiated by Analysts at HC Wainwright

HC Wainwright began coverage on shares of GRI Bio (NASDAQ:GRI) in a research report report published on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $10.00 price target on the stock.

Separately, Ascendiant Capital Markets lifted their target price on shares of GRI Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th.

GRI Bio Stock Performance

Shares of GRI stock opened at 0.87 on Monday. GRI Bio has a fifty-two week low of 0.30 and a fifty-two week high of 65.00. The business has a fifty day simple moving average of 0.70 and a 200-day simple moving average of 1.24.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in GRI Bio stock. Armistice Capital LLC purchased a new position in shares of GRI Bio, Inc. (NASDAQ:GRI) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 50,207 shares of the company’s stock, valued at approximately $96,000. Armistice Capital LLC owned approximately 9.23% of GRI Bio at the end of the most recent reporting period. 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.