Grace Therapeutics (NASDAQ:GRCE) Trading 2.8% Higher – Time to Buy?

Grace Therapeutics, Inc. (NASDAQ:GRCE)’s stock price shot up 2.8% during mid-day trading on Thursday . The stock traded as high as $2.26 and last traded at $2.24. 189,450 shares changed hands during trading, a decline of 80% from the average session volume of 950,160 shares. The stock had previously closed at $2.18.

Analyst Ratings Changes

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

Grace Therapeutics Price Performance

The company’s 50-day simple moving average is $3.55 and its 200-day simple moving average is $3.52. The stock has a market capitalization of $34.65 million, a price-to-earnings ratio of -5.60 and a beta of 0.32.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Stratos Wealth Partners LTD. bought a new position in shares of Grace Therapeutics during the fourth quarter worth approximately $39,000. Kestra Private Wealth Services LLC bought a new position in Grace Therapeutics in the first quarter valued at approximately $60,000. SeaCrest Wealth Management LLC bought a new stake in shares of Grace Therapeutics during the third quarter worth $42,000. XTX Topco Ltd bought a new stake in shares of Grace Therapeutics during the fourth quarter worth $106,000. Finally, Pale Fire Capital SE bought a new stake in shares of Grace Therapeutics during the first quarter worth $175,000. 6.08% of the stock is owned by institutional investors.

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.