Grace Therapeutics, Inc. (NASDAQ:GRCE) Short Interest Up 60.2% in September

Grace Therapeutics, Inc. (NASDAQ:GRCE) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totaling 209,500 shares, an increase of 60.2% from the August 31st total of 130,800 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily trading volume, of 80,200 shares, the short-interest ratio is currently 2.6 days. Based on an average daily trading volume, of 80,200 shares, the short-interest ratio is currently 2.6 days. Currently, 2.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

GRCE has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Grace Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Grace Therapeutics in a report on Saturday, September 27th. Two equities 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.00.

Grace Therapeutics Price Performance

NASDAQ GRCE opened at $3.02 on Wednesday. The company has a market capitalization of $41.77 million, a PE ratio of -3.51 and a beta of 1.00. The company has a fifty day moving average of $3.10 and a 200 day moving average of $2.87. Grace Therapeutics has a 1 year low of $1.75 and a 1 year high of $4.97.

Grace Therapeutics (NASDAQ:GRCE) last posted its earnings results on Tuesday, August 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. Research analysts expect that Grace Therapeutics will post -1.06 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millington Financial Advisors LLC purchased a new position in Grace Therapeutics in the second quarter valued at $59,000. Palumbo Wealth Management LLC purchased a new position in Grace Therapeutics in the second quarter valued at $144,000. Stonepine Capital Management LLC purchased a new position in Grace Therapeutics in the first quarter valued at $666,000. ADAR1 Capital Management LLC purchased a new position in Grace Therapeutics in the first quarter valued at $783,000. Finally, Nantahala Capital Management LLC purchased a new position in Grace Therapeutics in the first quarter valued at $2,686,000. 6.08% of the stock is currently owned by institutional investors and hedge funds.

Grace Therapeutics Company Profile

Grace Therapeutics Inc is a late-stage biopharma company advancing GTx-104, its novel injectable formulation of nimodipine which addresses high unmet medical needs for a rare disease, aneurysmal subarachnoid hemorrhage. Grace Therapeutics Inc, formerly known as Acasti Pharma Inc, is based in Princeton, New Jersey.