NeuroPace, Inc. (NASDAQ:NPCE) Short Interest Update

NeuroPace, Inc. (NASDAQ:NPCE) saw a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 449,600 shares, a growth of 45.8% from the March 15th total of 308,300 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average trading volume of 242,200 shares, the short-interest ratio is presently 1.9 days.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NPCE. Cantor Fitzgerald lifted their price objective on shares of NeuroPace from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. UBS Group initiated coverage on NeuroPace in a research report on Tuesday, January 21st. They issued a “buy” rating and a $17.00 price target for the company. Finally, Wells Fargo & Company lifted their price objective on shares of NeuroPace from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.20.

Insider Activity at NeuroPace

In related news, insider Martha Morrell sold 3,200 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $15.01, for a total transaction of $48,032.00. Following the transaction, the insider now directly owns 87,062 shares of the company’s stock, valued at approximately $1,306,800.62. This represents a 3.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Ltd. Kck sold 5,270,845 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $9.40, for a total value of $49,545,943.00. The disclosure for this sale can be found here. Insiders have sold 5,352,479 shares of company stock worth $50,670,217 in the last quarter. Company insiders own 22.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NPCE. KCK LTD. bought a new stake in shares of NeuroPace in the 4th quarter worth approximately $58,981,000. Jane Street Group LLC bought a new stake in shares of NeuroPace in the fourth quarter valued at $1,120,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of NeuroPace during the 4th quarter valued at $639,000. JPMorgan Chase & Co. grew its stake in shares of NeuroPace by 440.4% during the 4th quarter. JPMorgan Chase & Co. now owns 64,826 shares of the company’s stock worth $725,000 after acquiring an additional 52,829 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in NeuroPace in the 4th quarter worth about $369,000. 78.83% of the stock is owned by institutional investors.

NeuroPace Stock Performance

NeuroPace stock traded up $0.36 during mid-day trading on Friday, reaching $10.79. 173,059 shares of the company’s stock were exchanged, compared to its average volume of 129,912. The business’s fifty day simple moving average is $11.94 and its 200 day simple moving average is $10.69. The company has a quick ratio of 4.77, a current ratio of 5.59 and a debt-to-equity ratio of 6.03. NeuroPace has a one year low of $5.45 and a one year high of $15.11. The firm has a market capitalization of $351.32 million, a PE ratio of -10.79 and a beta of 2.03.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, March 4th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.07. The company had revenue of $21.47 million for the quarter, compared to analysts’ expectations of $21.14 million. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. On average, sell-side analysts expect that NeuroPace will post -1 earnings per share for the current year.

NeuroPace Company Profile

NeuroPace, Inc operates as a medical device company in the United States. The company develops RNS system, a brain-responsive neuromodulation system that delivers personalized, real-time treatment at the seizure source for treating medically refractory focal epilepsy. It also records continuous brain activity data and enables clinicians to monitor patients in person and remotely.