GRI Bio (NASDAQ:GRI) Given New $13.00 Price Target at Ascendiant Capital Markets

GRI Bio (NASDAQ:GRI) had its price objective increased by Ascendiant Capital Markets from $12.00 to $13.00 in a research report sent to investors on Thursday morning,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the stock.

GRI Bio Price Performance

Shares of GRI opened at 0.65 on Thursday. GRI Bio has a 12 month low of 0.30 and a 12 month high of 65.00. The stock has a market cap of $5.80 million, a PE ratio of -0.25 and a beta of -2.04. The stock’s 50-day moving average is 0.68 and its two-hundred day moving average is 1.37.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in GRI Bio stock. Armistice Capital LLC acquired a new stake in GRI Bio, Inc. (NASDAQ:GRI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 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.