Grace Therapeutics, Inc. (NASDAQ:GRCE) Sees Significant Growth in Short Interest

Grace Therapeutics, Inc. (NASDAQ:GRCE) saw a large increase in short interest in April. As of April 15th, there was short interest totaling 1,948,693 shares, an increase of 17.9% from the March 31st total of 1,652,768 shares. Approximately 14.2% of the shares of the stock are sold short. Based on an average daily volume of 1,275,282 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. ADAR1 Capital Management LLC grew its position in Grace Therapeutics by 83.2% during the 4th quarter. ADAR1 Capital Management LLC now owns 641,988 shares of the company’s stock worth $2,221,000 after acquiring an additional 291,538 shares during the last quarter. Cerity Partners LLC bought a new position in Grace Therapeutics in the fourth quarter valued at about $1,463,000. Renaissance Technologies LLC boosted its stake in shares of Grace Therapeutics by 53.5% during the fourth quarter. Renaissance Technologies LLC now owns 129,781 shares of the company’s stock valued at $449,000 after purchasing an additional 45,220 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Grace Therapeutics during the fourth quarter valued at about $106,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Grace Therapeutics during the third quarter worth about $42,000. 6.08% of the stock is currently owned by institutional investors.

Grace Therapeutics Stock Performance

Shares of GRCE traded up $0.10 during mid-day trading on Friday, reaching $2.34. The company had a trading volume of 801,937 shares, compared to its average volume of 1,442,651. The company has a market capitalization of $36.21 million, a price-to-earnings ratio of -5.85 and a beta of 0.32. The company’s 50 day simple moving average is $4.00 and its 200 day simple moving average is $3.59. Grace Therapeutics has a 1-year low of $1.79 and a 1-year high of $5.18.

Grace Therapeutics (NASDAQ:GRCE) last released its quarterly earnings data 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). As a group, equities analysts forecast that Grace Therapeutics will post -0.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on GRCE shares. TD Cowen dropped their price target on Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Wall Street Zen upgraded shares of Grace Therapeutics to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Grace Therapeutics in a report on Tuesday, April 21st. Finally, Craig Hallum set a $4.00 target price on shares of Grace Therapeutics in a research report on Friday, April 24th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Grace Therapeutics presently has a consensus rating of “Hold” and an average price target of $6.00.

Grace Therapeutics Company Profile

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.