Grace Therapeutics (NASDAQ:GRCE) Posts Quarterly Earnings Results, Misses Estimates By $0.78 EPS

Grace Therapeutics (NASDAQ:GRCE) announced its quarterly earnings results on Thursday. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.78), FiscalAI reports. During the same quarter in the previous year, the business posted ($0.21) earnings per share.

Grace Therapeutics Stock Down 1.4%

NASDAQ GRCE traded down $0.03 during trading hours on Thursday, hitting $2.07. The company had a trading volume of 190,781 shares, compared to its average volume of 437,507. The firm has a market cap of $33.68 million, a P/E ratio of -4.31 and a beta of 0.39. Grace Therapeutics has a fifty-two week low of $1.79 and a fifty-two week high of $5.18. The business has a fifty day simple moving average of $2.30 and a 200-day simple moving average of $3.10.

Institutional Trading of Grace Therapeutics

Several hedge funds have recently bought and sold shares of GRCE. SeaCrest Wealth Management LLC bought a new position in Grace Therapeutics in the 3rd quarter worth about $42,000. XTX Topco Ltd acquired a new stake in shares of Grace Therapeutics in the fourth quarter valued at approximately $106,000. Renaissance Technologies LLC raised its holdings 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 valued at $449,000 after buying an additional 45,220 shares during the last quarter. ADAR1 Capital Management LLC raised its holdings in shares of Grace Therapeutics by 98.4% during the third 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 last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Grace Therapeutics during the fourth quarter valued at approximately $1,463,000. 6.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GRCE shares. Zacks Research upgraded shares of Grace Therapeutics to a “hold” rating in a research note on Monday, August 3rd. Wall Street Zen lowered Grace Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Grace Therapeutics in a report on Friday, July 17th. Craig Hallum set a $4.00 price objective on Grace Therapeutics in a research note on Friday, April 24th. Finally, TD Cowen cut their target price on Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Grace Therapeutics presently has an average rating of “Hold” and a consensus 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.