Grace Therapeutics, Inc. (NASDAQ:GRCE) Sees Large Growth in Short Interest

Grace Therapeutics, Inc. (NASDAQ:GRCE) was the recipient of a large growth in short interest in the month of 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. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 61,412 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily trading volume, of 61,412 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.2% of the shares of the company are short sold.

Grace Therapeutics Stock Performance

Shares of NASDAQ GRCE traded down $0.02 during midday trading on Tuesday, reaching $3.37. 60,634 shares of the company traded hands, compared to its average volume of 64,619. Grace Therapeutics has a 12 month low of $1.75 and a 12 month high of $4.68. The stock’s 50-day simple moving average is $3.20 and its 200-day simple moving average is $3.14. The firm has a market cap of $52.13 million, a PE ratio of -5.44 and a beta of 0.59.

Grace Therapeutics (NASDAQ:GRCE) last announced its earnings results on Thursday, November 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03). On average, equities research analysts expect that Grace Therapeutics will post -1.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GRCE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grace Therapeutics in a report on Wednesday, October 8th. Wall Street Zen raised shares of Grace Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.00.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GRCE. ADAR1 Capital Management LLC grew its position in Grace Therapeutics by 98.4% during the 3rd quarter. ADAR1 Capital Management LLC now owns 350,450 shares of the company’s stock worth $1,043,000 after acquiring an additional 173,823 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Grace Therapeutics in the third quarter worth $42,000. Millington Financial Advisors LLC acquired a new position in Grace Therapeutics in the second quarter worth $59,000. Palumbo Wealth Management LLC bought a new stake in shares of Grace Therapeutics during the second quarter worth $144,000. Finally, Nantahala Capital Management LLC acquired a new stake in shares of Grace Therapeutics in the first quarter valued at $2,686,000. Institutional investors own 6.08% of the company’s stock.

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.