Grace Therapeutics (NASDAQ:GRCE) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Grace Therapeutics (NASDAQ:GRCE) posted its quarterly earnings results on Thursday. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05), FiscalAI reports.

Grace Therapeutics Price Performance

NASDAQ GRCE opened at $3.61 on Friday. The business’s fifty day moving average is $3.55 and its 200-day moving average is $3.26. The stock has a market capitalization of $55.85 million, a price-to-earnings ratio of -9.02 and a beta of 0.76. Grace Therapeutics has a one year low of $1.75 and a one year high of $3.94.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GRCE. Wall Street Zen raised Grace Therapeutics to a “hold” rating in a research note on Friday, January 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Grace Therapeutics in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Grace Therapeutics has a consensus rating of “Hold” and an average target price of $12.00.

Institutional Trading of Grace Therapeutics

Several hedge funds have recently added to or reduced their stakes in GRCE. Renaissance Technologies LLC grew its position in shares of Grace Therapeutics by 53.5% during 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 period. Cerity Partners LLC purchased a new position in Grace Therapeutics in the fourth quarter valued at approximately $1,463,000. ADAR1 Capital Management LLC grew its holdings in Grace Therapeutics by 98.4% during the third quarter. ADAR1 Capital Management LLC now owns 350,450 shares of the company’s stock valued at $1,043,000 after purchasing an additional 173,823 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new position in Grace Therapeutics during the third quarter valued at $42,000. Institutional investors own 6.08% of the company’s stock.

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.