Grace Therapeutics (NASDAQ:GRCE – Get Free Report) posted its earnings results on Thursday. The company reported ($0.91) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.78), FiscalAI reports. During the same period in the prior year, the firm posted ($0.21) earnings per share.
Grace Therapeutics Stock Performance
GRCE stock traded up $0.09 during trading on Friday, hitting $2.16. The stock had a trading volume of 397,770 shares, compared to its average volume of 242,353. The company’s 50 day moving average price is $2.29 and its two-hundred day moving average price is $3.08. Grace Therapeutics has a 1-year low of $1.79 and a 1-year high of $5.18. The stock has a market cap of $35.15 million, a price-to-earnings ratio of -1.83 and a beta of 0.39.
Wall Street Analyst Weigh In
A number of brokerages recently commented on GRCE. Zacks Research raised shares of Grace Therapeutics to a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grace Therapeutics in a report on Friday, July 17th. TD Cowen lowered their price target on shares of Grace Therapeutics from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Craig Hallum set a $4.00 price objective on shares of Grace Therapeutics in a research note on Friday, April 24th. Finally, Wall Street Zen downgraded Grace Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.00.
Hedge Funds Weigh In On Grace Therapeutics
A number of institutional investors have recently modified their holdings of the company. XTX Topco Ltd purchased a new position in shares of Grace Therapeutics during the fourth quarter valued at approximately $106,000. ADAR1 Capital Management LLC raised its holdings in Grace Therapeutics by 83.2% in the 4th quarter. ADAR1 Capital Management LLC now owns 641,988 shares of the company’s stock valued at $2,221,000 after acquiring an additional 291,538 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Grace Therapeutics by 53.5% in the 4th quarter. Renaissance Technologies LLC now owns 129,781 shares of the company’s stock valued at $449,000 after acquiring an additional 45,220 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of Grace Therapeutics during the 4th quarter worth $1,463,000. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Grace Therapeutics during the 3rd quarter worth $42,000. Institutional investors and hedge funds 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.
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