Grace Therapeutics (NASDAQ:GRCE) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Grace Therapeutics (NASDAQ:GRCE) from a hold rating to a sell rating in a research report released on Saturday.

GRCE has been the topic of several other reports. TD Cowen cut their target price 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. Weiss Ratings restated a “sell (d-)” rating on shares of Grace Therapeutics in a research note on Friday, July 17th. Finally, Craig Hallum set a $4.00 price target on Grace Therapeutics in a research note on Friday, April 24th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $6.00.

Grace Therapeutics Stock Performance

Shares of NASDAQ GRCE opened at $2.08 on Friday. The firm’s 50 day moving average price is $2.35 and its 200-day moving average price is $3.17. The company has a market cap of $33.84 million, a PE ratio of -4.33 and a beta of 0.39. Grace Therapeutics has a 52-week low of $1.79 and a 52-week high of $5.18.

Grace Therapeutics (NASDAQ:GRCE) last posted its quarterly earnings results on Thursday, June 18th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.17. On average, analysts forecast that Grace Therapeutics will post -0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Eversept Partners LP bought a new position in Grace Therapeutics during the first quarter valued at approximately $3,503,000. Renaissance Technologies LLC boosted its holdings in Grace Therapeutics by 87.9% in the first quarter. Renaissance Technologies LLC now owns 243,910 shares of the company’s stock worth $1,129,000 after purchasing an additional 114,129 shares during the last quarter. Pale Fire Capital SE bought a new stake in Grace Therapeutics in the 1st quarter worth approximately $175,000. Kestra Private Wealth Services LLC bought a new stake in Grace Therapeutics in the 1st quarter worth approximately $60,000. Finally, XTX Topco Ltd bought a new stake in Grace Therapeutics in the 4th quarter worth approximately $106,000. 6.08% of the stock is owned by hedge funds and other 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.