Short Interest in Grace Therapeutics, Inc. (NASDAQ:GRCE) Rises By 34.6%

Grace Therapeutics, Inc. (NASDAQ:GRCE) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 42,809 shares, a growth of 34.6% from the December 31st total of 31,816 shares. Approximately 0.3% of the company’s shares are short sold. Based on an average daily volume of 153,748 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 153,748 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.3% of the company’s shares are short sold.

Hedge Funds Weigh In On Grace Therapeutics

Several large investors have recently modified their holdings of the business. Stratos Wealth Partners LTD. bought a new stake in shares of Grace Therapeutics during the 4th quarter valued at $39,000. ADAR1 Capital Management LLC grew 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 worth $1,043,000 after buying an additional 173,823 shares in the last quarter. SeaCrest Wealth Management LLC bought a new position in Grace Therapeutics in the third quarter valued at $42,000. Finally, Millington Financial Advisors LLC bought a new stake in Grace Therapeutics in the 2nd quarter worth approximately $59,000. Hedge funds and other institutional investors own 6.08% of the company’s stock.

Grace Therapeutics Stock Up 3.4%

GRCE traded up $0.12 during trading on Friday, reaching $3.63. 73,783 shares of the stock traded hands, compared to its average volume of 120,592. The stock’s 50-day moving average is $3.46 and its 200 day moving average is $3.23. Grace Therapeutics has a 12 month low of $1.75 and a 12 month high of $3.94. The stock has a market capitalization of $56.16 million, a PE ratio of -5.85 and a beta of 0.55.

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

Wall Street Analyst Weigh In

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

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.