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

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Grace Therapeutics

Several hedge funds have recently added to or reduced their stakes in GRCE. XTX Topco Ltd acquired a new position in shares of Grace Therapeutics in the fourth quarter valued at $106,000. ADAR1 Capital Management LLC lifted its stake in shares of Grace Therapeutics by 83.2% during the 4th quarter. ADAR1 Capital Management LLC now owns 641,988 shares of the company’s stock worth $2,221,000 after buying an additional 291,538 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Grace Therapeutics by 53.5% during the 4th quarter. Renaissance Technologies LLC now owns 129,781 shares of the company’s stock worth $449,000 after buying an additional 45,220 shares during the period. Cerity Partners LLC bought a new stake in shares of Grace Therapeutics during the 4th quarter worth about $1,463,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Grace Therapeutics in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 6.08% of the company’s stock.

Grace Therapeutics Stock Performance

Shares of GRCE stock opened at $4.77 on Friday. Grace Therapeutics has a 52-week low of $1.75 and a 52-week high of $4.94. The stock has a market cap of $73.79 million, a price-to-earnings ratio of -11.92 and a beta of 0.71. The firm’s 50-day moving average is $3.93 and its 200-day moving average is $3.47.

Grace Therapeutics (NASDAQ:GRCE) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05). Sell-side analysts predict 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.