Grace Therapeutics, Inc. (NASDAQ:GRCE) Short Interest Update

Grace Therapeutics, Inc. (NASDAQ:GRCE) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 31,816 shares, a growth of 31.0% from the December 15th total of 24,289 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 68,338 shares, the days-to-cover ratio is currently 0.5 days. Based on an average daily trading volume, of 68,338 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.2% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Grace Therapeutics in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.00.

Grace Therapeutics Price Performance

GRCE stock traded up $0.01 during mid-day trading on Monday, reaching $3.65. 48,962 shares of the company traded hands, compared to its average volume of 108,414. The company has a fifty day moving average price of $3.34 and a 200-day moving average price of $3.20. Grace Therapeutics has a 52-week low of $1.75 and a 52-week high of $4.00. The company has a market capitalization of $56.47 million, a P/E ratio of -5.89 and a beta of 0.55.

Grace Therapeutics (NASDAQ:GRCE) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.03). As a group, analysts forecast that Grace Therapeutics will post -1.06 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GRCE. SeaCrest Wealth Management LLC bought a new stake in Grace Therapeutics during the third quarter valued at approximately $42,000. Millington Financial Advisors LLC bought a new stake in shares of Grace Therapeutics during the 2nd quarter worth $59,000. Palumbo Wealth Management LLC purchased a new position in Grace Therapeutics in the second quarter worth $144,000. Finally, ADAR1 Capital Management LLC increased its stake in Grace Therapeutics by 98.4% in the third quarter. ADAR1 Capital Management LLC now owns 350,450 shares of the company’s stock valued at $1,043,000 after acquiring an additional 173,823 shares during the last quarter. 6.08% of the stock is currently owned by institutional investors.

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.