Grace Therapeutics (NASDAQ:GRCE) Releases Quarterly Earnings Results, Misses Expectations By $0.78 EPS

Grace Therapeutics (NASDAQ:GRCE) released its quarterly earnings data on Thursday. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.78), FiscalAI reports. During the same quarter last year, the business earned ($0.21) EPS.

Grace Therapeutics Stock Performance

Shares of NASDAQ:GRCE traded down $0.03 during midday trading on Thursday, hitting $2.07. The company’s stock had a trading volume of 146,860 shares, compared to its average volume of 437,196. The stock’s 50 day simple moving average is $2.30 and its 200 day simple moving average is $3.10. The stock has a market capitalization of $33.68 million, a price-to-earnings ratio of -4.31 and a beta of 0.39. Grace Therapeutics has a fifty-two week low of $1.79 and a fifty-two week high of $5.18.

Analysts Set New Price Targets

Several analysts have recently issued reports on GRCE shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grace Therapeutics in a research note on Friday, July 17th. TD Cowen cut their price objective on Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Craig Hallum set a $4.00 target price on Grace Therapeutics in a report on Friday, April 24th. Zacks Research raised Grace Therapeutics to a “hold” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen downgraded Grace Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Grace Therapeutics presently has an average rating of “Hold” and an average price target of $6.00.

Institutional Trading of Grace Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC acquired a new position in shares of Grace Therapeutics during the third quarter worth approximately $42,000. XTX Topco Ltd acquired a new position in Grace Therapeutics during the 4th quarter valued at $106,000. Renaissance Technologies LLC raised its stake in Grace Therapeutics by 53.5% during the 4th 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 during the last quarter. ADAR1 Capital Management LLC boosted its holdings in Grace Therapeutics by 98.4% in the 3rd quarter. ADAR1 Capital Management LLC now owns 350,450 shares of the company’s stock valued at $1,043,000 after purchasing an additional 173,823 shares during the period. Finally, Cerity Partners LLC bought a new stake in Grace Therapeutics in the 4th quarter valued at $1,463,000. Institutional investors and hedge funds own 6.08% of the company’s stock.

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.