Stonepine Capital Management LLC acquired a new stake in Grace Therapeutics, Inc. (NASDAQ:GRCE – Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 294,550 shares of the company’s stock, valued at approximately $62,125,000. Stonepine Capital Management LLC owned about 1.40% of Grace Therapeutics at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Kestra Private Wealth Services LLC acquired a new stake in Grace Therapeutics during the first quarter worth approximately $60,000. SeaCrest Wealth Management LLC acquired a new position in Grace Therapeutics in the 3rd quarter valued at $42,000. XTX Topco Ltd purchased a new position in shares of Grace Therapeutics during the 4th quarter worth $106,000. BlackRock Inc. purchased a new position in shares of Grace Therapeutics during the 2nd quarter worth $85,000. Finally, Pale Fire Capital SE acquired a new stake in shares of Grace Therapeutics during the first quarter worth $175,000. Hedge funds and other institutional investors own 6.08% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on GRCE. Wall Street Zen downgraded Grace Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Grace Therapeutics in a research report on Friday, July 17th. Finally, Zacks Research raised Grace Therapeutics to a “hold” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Grace Therapeutics has a consensus rating of “Hold” and an average price target of $6.00.
Grace Therapeutics Stock Up 0.5%
NASDAQ:GRCE opened at $2.16 on Friday. The company has a market cap of $45.45 million, a P/E ratio of -1.83 and a beta of 0.39. The firm’s 50 day moving average is $2.27 and its two-hundred day moving average is $2.98. Grace Therapeutics, Inc. has a fifty-two week low of $1.79 and a fifty-two week high of $5.18.
Grace Therapeutics (NASDAQ:GRCE – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.91) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.78). During the same quarter in the prior year, the firm earned ($0.21) EPS. Research analysts forecast that Grace Therapeutics, Inc. will post -0.8 earnings per share for the current fiscal year.
Grace Therapeutics 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.
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