Short Interest in Grace Therapeutics, Inc. (NASDAQ:GRCE) Grows By 300.8%

Grace Therapeutics, Inc. (NASDAQ:GRCE) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totaling 1,565,407 shares, an increase of 300.8% from the February 26th total of 390,568 shares. Based on an average trading volume of 469,691 shares, the days-to-cover ratio is presently 3.3 days. Currently, 11.4% of the company’s stock are sold short. Currently, 11.4% of the company’s stock are sold short. Based on an average trading volume of 469,691 shares, the days-to-cover ratio is presently 3.3 days.

Analyst Ratings Changes

GRCE has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Grace Therapeutics in a research note on Thursday, January 22nd. Wall Street Zen raised Grace Therapeutics to a “hold” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Grace Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $12.00.

Institutional Trading of Grace Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Stratos Wealth Partners LTD. bought a new position in Grace Therapeutics during the 4th quarter worth approximately $39,000. SeaCrest Wealth Management LLC bought a new stake in shares of Grace Therapeutics in the 3rd quarter valued at approximately $42,000. Millington Financial Advisors LLC acquired a new stake in shares of Grace Therapeutics during the 2nd quarter valued at approximately $59,000. XTX Topco Ltd acquired a new stake in shares of Grace Therapeutics during the 4th quarter valued at approximately $106,000. Finally, Renaissance Technologies LLC lifted its stake in Grace Therapeutics by 53.5% during the fourth quarter. Renaissance Technologies LLC now owns 129,781 shares of the company’s stock worth $449,000 after purchasing an additional 45,220 shares during the last quarter. Institutional investors and hedge funds own 6.08% of the company’s stock.

Grace Therapeutics Price Performance

Shares of GRCE stock opened at $4.44 on Wednesday. The firm has a fifty day moving average of $3.89 and a two-hundred day moving average of $3.45. The firm has a market cap of $68.69 million, a P/E ratio of -11.10 and a beta of 0.71. Grace Therapeutics has a 1-year low of $1.75 and a 1-year high of $4.71.

Grace Therapeutics (NASDAQ:GRCE) last issued its earnings results on Thursday, February 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). On average, sell-side analysts expect that Grace Therapeutics will post -1.06 EPS for the current year.

About Grace Therapeutics

Grace Therapeutics, Inc (NASDAQ: GRCE) is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for rare genetic diseases. By employing a proprietary platform that integrates advanced molecular biology and biologic engineering, the company focuses on identifying and optimizing gene-based and protein-based candidates designed to address well-defined genetic drivers of disease.

The company’s pipeline features multiple preclinical programs targeting lysosomal storage disorders and other inherited metabolic conditions.