Eversept Partners LP Takes $3.50 Million Position in Grace Therapeutics, Inc. $GRCE

Eversept Partners LP acquired a new stake in shares of Grace Therapeutics, Inc. (NASDAQ:GRCE) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 756,600 shares of the company’s stock, valued at approximately $3,503,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GRCE. Stratos Wealth Partners LTD. acquired a new position in Grace Therapeutics in the 4th quarter worth about $39,000. SeaCrest Wealth Management LLC bought a new position in Grace Therapeutics in the third quarter valued at about $42,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Grace Therapeutics during the first quarter valued at about $60,000. XTX Topco Ltd acquired a new stake in shares of Grace Therapeutics during the fourth quarter valued at about $106,000. Finally, Pale Fire Capital SE bought a new stake in shares of Grace Therapeutics during the first quarter worth about $175,000. Institutional investors own 6.08% of the company’s stock.

Grace Therapeutics Stock Down 1.3%

Shares of GRCE opened at $2.30 on Tuesday. The business’s fifty day moving average is $2.36 and its 200 day moving average is $3.23. Grace Therapeutics, Inc. has a 12-month low of $1.79 and a 12-month high of $5.18. The stock has a market cap of $37.43 million, a P/E ratio of -4.79 and a beta of 0.37.

Grace Therapeutics (NASDAQ:GRCE) last announced 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 expect that Grace Therapeutics, Inc. will post -0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen raised Grace Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Craig Hallum set a $4.00 target price on shares of Grace Therapeutics in a research report on Friday, April 24th. TD Cowen reduced their target price on shares of Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grace Therapeutics in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Grace Therapeutics presently has an average rating of “Hold” and an average target price of $6.00.

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.