Short Interest in Grace Therapeutics, Inc. (NASDAQ:GRCE) Grows By 37.0%

Grace Therapeutics, Inc. (NASDAQ:GRCE) was the target of a large growth in short interest in December. As of December 15th, there was short interest totaling 24,289 shares, a growth of 37.0% from the November 30th total of 17,729 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average trading volume of 61,412 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 61,412 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.2% of the shares of the stock are short sold.

Analyst Ratings Changes

Several brokerages recently issued reports on GRCE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grace Therapeutics in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Grace Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.00.

Hedge Funds Weigh In On Grace Therapeutics

A number of institutional investors have recently made changes to their positions in GRCE. Millington Financial Advisors LLC acquired a new stake in Grace Therapeutics in the second quarter valued at $59,000. Nantahala Capital Management LLC bought a new position in shares of Grace Therapeutics during the first quarter valued at approximately $2,686,000. Palumbo Wealth Management LLC bought a new stake in shares of Grace Therapeutics in the 2nd quarter worth approximately $144,000. ADAR1 Capital Management LLC acquired a new position in Grace Therapeutics during the 1st quarter valued at approximately $783,000. Finally, SeaCrest Wealth Management LLC acquired a new position in Grace Therapeutics during the 3rd quarter valued at about $42,000. 6.08% of the stock is owned by institutional investors and hedge funds.

Grace Therapeutics Price Performance

NASDAQ:GRCE traded up $0.09 during mid-day trading on Thursday, reaching $3.46. The company’s stock had a trading volume of 190,643 shares, compared to its average volume of 58,413. The stock has a market cap of $53.53 million, a P/E ratio of -5.58 and a beta of 0.59. The company’s fifty day simple moving average is $3.22 and its two-hundred day simple moving average is $3.14. Grace Therapeutics has a twelve month low of $1.75 and a twelve month high of $4.68.

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

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.