Short Interest in Grace Therapeutics, Inc. (NASDAQ:GRCE) Grows By 17.9%

Grace Therapeutics, Inc. (NASDAQ:GRCE) was the target of a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 1,948,693 shares, a growth of 17.9% from the March 31st total of 1,652,768 shares. Approximately 14.2% of the company’s stock are sold short. Based on an average daily trading volume, of 1,275,282 shares, the days-to-cover ratio is presently 1.5 days.

Grace Therapeutics Trading Up 4.5%

GRCE stock traded up $0.10 on Friday, hitting $2.34. The company’s stock had a trading volume of 801,937 shares, compared to its average volume of 1,442,651. The firm has a 50 day moving average of $4.00 and a two-hundred day moving average of $3.59. Grace Therapeutics has a 1 year low of $1.79 and a 1 year high of $5.18. The stock has a market cap of $36.21 million, a price-to-earnings ratio of -5.85 and a beta of 0.32.

Grace Therapeutics (NASDAQ:GRCE) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). As a group, equities analysts forecast that Grace Therapeutics will post -0.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Grace Therapeutics

Institutional investors have recently bought and sold shares of the company. Kestra Private Wealth Services LLC acquired a new position in Grace Therapeutics in the 1st quarter valued at $60,000. ADAR1 Capital Management LLC increased its stake in Grace Therapeutics by 98.4% in the 3rd quarter. ADAR1 Capital Management LLC now owns 350,450 shares of the company’s stock valued at $1,043,000 after buying an additional 173,823 shares during the period. Cerity Partners LLC acquired a new position in Grace Therapeutics in the 4th quarter valued at $1,463,000. Renaissance Technologies LLC increased its stake in Grace Therapeutics by 53.5% in the 4th quarter. Renaissance Technologies LLC now owns 129,781 shares of the company’s stock valued at $449,000 after buying an additional 45,220 shares during the period. Finally, XTX Topco Ltd acquired a new position in Grace Therapeutics in the 4th quarter valued at $106,000. 6.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.