Short Interest in NeuroPace, Inc. (NASDAQ:NPCE) Decreases By 17.8%

NeuroPace, Inc. (NASDAQ:NPCE) was the target of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 219,400 shares, a decrease of 17.8% from the January 15th total of 267,000 shares. Approximately 1.6% of the company’s shares are sold short. Based on an average daily trading volume, of 119,100 shares, the short-interest ratio is presently 1.8 days.

Wall Street Analyst Weigh In

Several brokerages have commented on NPCE. Wells Fargo & Company upped 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. JPMorgan Chase & Co. increased their price target on shares of NeuroPace from $9.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, UBS Group assumed coverage on NeuroPace in a research report on Tuesday, January 21st. They set a “buy” rating and a $17.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.80.

NeuroPace Price Performance

NPCE stock opened at $12.31 on Friday. 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 firm has a 50 day moving average price of $12.25 and a 200-day moving average price of $9.22. NeuroPace has a 52-week low of $5.45 and a 52-week high of $18.15. The firm has a market capitalization of $367.45 million, a price-to-earnings ratio of -12.31 and a beta of 2.05.

Insider Buying and Selling at NeuroPace

In other NeuroPace news, insider Martha Morrell sold 3,200 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $15.01, for a total value of $48,032.00. Following the completion of the sale, the insider now owns 87,062 shares in the company, valued at approximately $1,306,800.62. This trade represents a 3.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NPCE. Wells Fargo & Company MN grew its stake in shares of NeuroPace by 54.2% in the fourth quarter. Wells Fargo & Company MN now owns 6,483 shares of the company’s stock worth $73,000 after acquiring an additional 2,279 shares during the last quarter. Financial Advocates Investment Management grew its position in NeuroPace by 20.0% during the 3rd quarter. Financial Advocates Investment Management now owns 18,000 shares of the company’s stock valued at $125,000 after purchasing an additional 3,000 shares during the last quarter. Bank of New York Mellon Corp increased its stake in NeuroPace by 21.2% during the 4th quarter. Bank of New York Mellon Corp now owns 29,342 shares of the company’s stock valued at $328,000 after purchasing an additional 5,133 shares in the last quarter. Geode Capital Management LLC raised its holdings in NeuroPace by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 322,973 shares of the company’s stock worth $3,615,000 after buying an additional 5,781 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of NeuroPace by 106.3% in the third quarter. JPMorgan Chase & Co. now owns 11,997 shares of the company’s stock worth $84,000 after buying an additional 6,181 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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.