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

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

Insider Activity

In other NeuroPace news, insider Martha Morrell sold 3,200 shares of the business’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 completion of 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 sale was disclosed in a document filed with the SEC, which is accessible through 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 value of $49,545,943.00. The disclosure for this sale can be found here. Insiders sold a total of 5,352,479 shares of company stock worth $50,670,217 over the last quarter. 22.20% of the stock is currently owned by corporate insiders.

Institutional Trading of NeuroPace

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

NeuroPace Stock Performance

NPCE traded up $0.43 during trading on Wednesday, hitting $13.54. 182,737 shares of the company traded hands, compared to its average volume of 129,928. NeuroPace has a one year low of $5.45 and a one year high of $15.77. The stock’s fifty day moving average is $12.64 and its 200 day moving average is $10.33. The company has a quick ratio of 4.77, a current ratio of 5.59 and a debt-to-equity ratio of 6.03. The firm has a market cap of $440.86 million, a P/E ratio of -13.54 and a beta of 2.06.

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

Analysts Set New Price Targets

NPCE has been the subject of a number of analyst reports. UBS Group started 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. Cantor Fitzgerald raised their price target on shares of NeuroPace from $19.00 to $20.00 and gave the company an “overweight” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. upped their price objective on shares of NeuroPace from $9.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company lifted their target price on shares of NeuroPace from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.20.

About NeuroPace

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.