NeuroPace, Inc. (NASDAQ:NPCE) Sees Large Growth in Short Interest

NeuroPace, Inc. (NASDAQ:NPCE) saw a significant growth in short interest during the month of 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. Based on an average daily trading volume, of 213,900 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.3% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

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

NeuroPace Stock Up 3.3 %

Shares of NASDAQ NPCE opened at $13.54 on Thursday. The business has a 50-day moving average of $12.63 and a two-hundred day moving average of $10.35. The company has a market capitalization of $440.86 million, a price-to-earnings 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. The company has a debt-to-equity ratio of 6.03, a current ratio of 5.59 and a quick ratio of 4.77.

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

Insider Buying and Selling at NeuroPace

In other news, insider Martha Morrell sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $15.01, for a total value of $48,032.00. Following the sale, the insider now directly owns 87,062 shares of the company’s stock, valued at approximately $1,306,800.62. The trade was a 3.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ltd. Kck sold 5,270,845 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $9.40, for a total transaction of $49,545,943.00. The disclosure for this sale can be found here. Insiders have sold 5,352,479 shares of company stock valued at $50,670,217 over the last 90 days. 22.20% of the stock is owned by insiders.

Institutional Trading of NeuroPace

Institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Advisers LP acquired a new position in NeuroPace during the fourth quarter worth approximately $117,000. Two Sigma Investments LP purchased a new position in shares of NeuroPace during the fourth quarter worth approximately $293,000. Point72 Asset Management L.P. purchased a new stake in NeuroPace in the 4th quarter valued at $369,000. Jacobs Levy Equity Management Inc. purchased a new stake in NeuroPace in the 4th quarter valued at $639,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in NeuroPace during the 4th quarter worth $112,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

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.