GRI Bio (NASDAQ:GRI) Shares Scheduled to Reverse Split on Monday, February 24th

GRI Bio, Inc. (NASDAQ:GRI) shares are set to reverse split on 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 Performance

NASDAQ:GRI 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 fifty day simple moving average is $0.70 and its 200-day simple moving average is $0.64.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GRI shares. HC Wainwright started coverage on GRI Bio in a report on Monday, December 9th. They set a “buy” rating and a $10.00 target price on the stock. 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.

Institutional Trading of GRI Bio

A hedge fund recently raised its stake in GRI Bio stock. Geode Capital Management LLC grew its position in GRI Bio, Inc. (NASDAQ:GRI) by 543.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,182 shares of the company’s stock after purchasing an additional 64,335 shares during the period. Geode Capital Management LLC owned approximately 0.85% of GRI Bio worth $63,000 at the end of the most recent quarter. 33.95% of the stock is currently owned by institutional investors and hedge funds.

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.