Short Interest in Grace Therapeutics, Inc. (NASDAQ:GRCE) Increases By 300.8%

Grace Therapeutics, Inc. (NASDAQ:GRCE) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 1,565,407 shares, a growth of 300.8% from the February 26th total of 390,568 shares. Based on an average daily volume of 469,691 shares, the days-to-cover ratio is presently 3.3 days. Currently, 11.4% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GRCE shares. Weiss Ratings restated a “sell (d-)” rating on shares of Grace Therapeutics in a report on Thursday, January 22nd. Wall Street Zen raised Grace Therapeutics to a “hold” rating in a research note on Friday, January 23rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $12.00.

Institutional Trading of Grace Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. XTX Topco Ltd purchased a new position in Grace Therapeutics in the 4th quarter worth about $106,000. ADAR1 Capital Management LLC increased its position in shares of Grace Therapeutics by 83.2% during the fourth quarter. ADAR1 Capital Management LLC now owns 641,988 shares of the company’s stock worth $2,221,000 after acquiring an additional 291,538 shares during the period. Renaissance Technologies LLC increased its position in shares of Grace Therapeutics by 53.5% during the fourth quarter. Renaissance Technologies LLC now owns 129,781 shares of the company’s stock worth $449,000 after acquiring an additional 45,220 shares during the period. Cerity Partners LLC purchased a new stake in shares of Grace Therapeutics in the fourth quarter valued at approximately $1,463,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in shares of Grace Therapeutics in the fourth quarter valued at approximately $39,000. 6.08% of the stock is currently owned by institutional investors.

Grace Therapeutics Price Performance

Shares of Grace Therapeutics stock traded up $0.08 during trading on Thursday, hitting $4.77. The stock had a trading volume of 795,559 shares, compared to its average volume of 245,458. Grace Therapeutics has a 12 month low of $1.75 and a 12 month high of $4.94. The firm’s fifty day simple moving average is $3.91 and its 200-day simple moving average is $3.46. The stock has a market cap of $73.79 million, a PE ratio of -11.92 and a beta of 0.71.

Grace Therapeutics (NASDAQ:GRCE) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.05). Analysts expect that Grace Therapeutics will post -1.06 earnings per share for the current fiscal year.

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.