Grace Therapeutics (NASDAQ:GRCE) Issues Quarterly Earnings Results, Misses Estimates By $0.78 EPS

Grace Therapeutics (NASDAQ:GRCE) released its earnings results on Thursday. The company reported ($0.91) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.78), FiscalAI reports. During the same period in the previous year, the firm posted ($0.21) earnings per share.

Grace Therapeutics Stock Down 1.4%

NASDAQ:GRCE traded down $0.03 during trading hours on Thursday, reaching $2.07. 146,860 shares of the company’s stock were exchanged, compared to its average volume of 437,196. The company has a market capitalization of $33.68 million, a P/E ratio of -4.31 and a beta of 0.39. The business’s 50-day simple moving average is $2.30 and its two-hundred day simple moving average is $3.10. Grace Therapeutics has a 12 month low of $1.79 and a 12 month high of $5.18.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Cerity Partners LLC purchased a new stake in shares of Grace Therapeutics in the fourth quarter valued at $1,463,000. ADAR1 Capital Management LLC grew its stake in shares of 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 buying an additional 291,538 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Grace Therapeutics by 53.5% in the fourth quarter. Renaissance Technologies LLC now owns 129,781 shares of the company’s stock worth $449,000 after buying an additional 45,220 shares during the last quarter. XTX Topco Ltd acquired a new position in Grace Therapeutics in the fourth quarter worth approximately $106,000. Finally, SeaCrest Wealth Management LLC bought a new position in Grace Therapeutics during the third quarter valued at approximately $42,000. 6.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GRCE has been the topic of a number of recent analyst reports. TD Cowen cut 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 note on Friday, April 24th. Zacks Research upgraded Grace Therapeutics to a “hold” rating in a report on Monday, August 3rd. Craig Hallum set a $4.00 price target on Grace Therapeutics in a report on Friday, April 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Grace Therapeutics in a research report on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Grace Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Grace Therapeutics has an average rating of “Hold” and an average target price of $6.00.

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.