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

Grace Therapeutics, Inc. (NASDAQ:GRCE) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 24,289 shares, an increase of 37.0% from the November 30th total of 17,729 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 61,412 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily trading volume, of 61,412 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Grace Therapeutics

Large investors have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC acquired a new stake in Grace Therapeutics during the third quarter worth about $42,000. Millington Financial Advisors LLC acquired a new position in Grace Therapeutics in the 2nd quarter valued at approximately $59,000. Palumbo Wealth Management LLC bought a new stake in shares of Grace Therapeutics in the 2nd quarter worth approximately $144,000. ADAR1 Capital Management LLC acquired a new stake in shares of Grace Therapeutics during the 1st quarter worth approximately $783,000. Finally, Nantahala Capital Management LLC bought a new stake in shares of Grace Therapeutics during the first quarter valued at approximately $2,686,000. 6.08% of the stock is currently owned by institutional investors and hedge funds.

Grace Therapeutics Stock Down 0.6%

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

Grace Therapeutics (NASDAQ:GRCE) last released its quarterly earnings data 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). Research analysts expect that Grace Therapeutics will post -1.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GRCE has been the topic of several recent analyst reports. Wall Street Zen upgraded Grace Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Grace Therapeutics in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.