GRI Bio Inc. (NASDAQ: GRI) stock jumped 4.48% on Friday to $1.40 against a previous-day closing price of $1.34. With 0.14 million shares changed hands, the volume of the stock remained heavier than its average volume of 97220.0 shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.4800 whereas the lowest price it dropped to was $1.3900. The 52-week range on GRI shows that it touched its highest point at $36.90 and its lowest point at $1.09 during that stretch. Beta for the stock currently stands at -1.14.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GRI was up-trending over the past week, with a rise of 19.67%, but this was down by -45.95% over a month. Three-month performance dropped to -77.12% while six-month performance fell -90.28%. The stock lost -88.17% in the past year, while it has lost -83.91% so far this year.
Float and Shares Shorts:
At present, 2.42 million GRI shares are outstanding with a float of 2.02 million shares on hand for trading. On Aug 30, 2023, short shares totaled 66040.0, which was 2.23% higher than short shares on Jul 30, 2023. In addition to Dr. W. Marc Hertz Ph.D. as the firm’s Co-Founder, CEO, Pres & Director, Dr. Vipin Kumar Chaturvedi Ph.D. serves as its Co-Founder & Chief Scientific Officer.
Through their ownership of 8.59% of GRI’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 39.38% of GRI, in contrast to 1.13% held by mutual funds. Shares owned by individuals account for 0.01%. As the largest shareholder in GRI with 39.89% of the stake, Altium Capital Management LP holds 1,179,286 shares worth 1,179,286. A second-largest stockholder of GRI, Geode Capital Management LLC, holds 14,878 shares, controlling over 0.50% of the firm’s shares. Tower Research Capital LLC is the third largest shareholder in GRI, holding 2,577 shares or 0.09% stake. With a 0.63% stake in GRI, the Vanguard Extended Market Index Fu is the largest stakeholder. A total of 18,539 shares are owned by the mutual fund manager. The Fidelity Extended Market Index Fu, which owns about 0.49% of GRI stock, is the second-largest Mutual Fund holder. It holds 14,435 shares valued at 18332.0. Fidelity Nasdaq Composite Index F holds 0.01% of the stake in GRI, owning 318 shares worth 404.0.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, GRI reported revenue of $0.00 and operating income of -$189.00k. The EBITDA in the recently reported quarter was -$189.00k and diluted EPS was -$0.10.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GRI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GRI analysts setting a high price target of $360.00 and a low target of $360.00, the average target price over the next 12 months is $360.00. Based on these targets, GRI could surge 25614.29% to reach the target high and rise by 25614.29% to reach the target low. Reaching the average price target will result in a growth of 25614.29% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GRI stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 3 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 729,888 while 28,517 shares were sold.