GRI Bio Stock Set to Reverse Split on Monday, February 24th (NASDAQ:GRI)

Shares of GRI Bio, Inc. (NASDAQ:GRI) are going to reverse split on the morning of Monday, February 24th. The 1-17 reverse split was announced on Wednesday, February 19th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, February 21st.

GRI Bio Stock Down 4.5 %

Shares of GRI stock opened at $0.53 on Thursday. GRI Bio has a 12-month low of $0.30 and a 12-month high of $13.72. The stock’s 50-day moving average price is $0.70 and its 200-day moving average price is $0.64.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GRI. Ascendiant Capital Markets lifted their target price on GRI Bio from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. HC Wainwright began coverage on GRI Bio in a report on Monday, December 9th. They issued a “buy” rating and a $10.00 target price on the stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in GRI Bio stock. Virtu Financial LLC purchased a new position in GRI Bio, Inc. (NASDAQ:GRI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 30,381 shares of the company’s stock, valued at approximately $25,000. Virtu Financial LLC owned approximately 0.34% of GRI Bio at the end of the most recent quarter. Hedge funds and other institutional investors own 33.95% of the company’s stock.

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.