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

NeuroPace, Inc. (NASDAQ:NPCE) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 308,300 shares, a growth of 25.5% from the February 28th total of 245,600 shares. Approximately 1.3% of the shares of the company are sold short. Based on an average daily volume of 213,900 shares, the short-interest ratio is currently 1.4 days.

Insider Buying and Selling

In other news, insider Martha Morrell sold 78,334 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $13.72, for a total value of $1,074,742.48. Following the completion of the sale, the insider now directly owns 81,993 shares of the company’s stock, valued at $1,124,943.96. This trade represents a 48.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ltd. Kck sold 5,270,845 shares of NeuroPace 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 sold 5,352,479 shares of company stock valued at $50,670,217 over the last ninety days. Corporate insiders own 22.20% of the company’s stock.

Institutional Trading of NeuroPace

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

Analysts Set New Price Targets

Several brokerages have weighed in on NPCE. UBS Group started coverage on shares of NeuroPace in a research report on Tuesday, January 21st. They set a “buy” rating and a $17.00 target price on the stock. Wells Fargo & Company raised their price objective on NeuroPace from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Cantor Fitzgerald boosted their target price on NeuroPace from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. raised their price target on NeuroPace from $9.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, NeuroPace currently has an average rating of “Moderate Buy” and an average price target of $15.20.

NeuroPace Price Performance

NPCE stock opened at $13.54 on Thursday. The company has a debt-to-equity ratio of 6.03, a quick ratio of 4.77 and a current ratio of 5.59. The stock’s 50 day moving average price is $12.63 and its 200 day moving average price is $10.35. The firm has a market cap of $440.86 million, a P/E ratio of -13.54 and a beta of 2.06. NeuroPace has a 1 year low of $5.45 and a 1 year high of $15.77.

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