Short Interest in NeuroPace, Inc. (NASDAQ:NPCE) Increases By 25.5%

NeuroPace, Inc. (NASDAQ:NPCE) saw a significant growth in short interest in 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 trading volume of 213,900 shares, the days-to-cover ratio is presently 1.4 days. Currently, 1.3% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, major shareholder Ltd. Kck sold 5,270,845 shares of NeuroPace stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Martha Morrell sold 78,334 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 81,993 shares of the company’s stock, valued at approximately $1,124,943.96. The trade was a 48.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,352,479 shares of company stock worth $50,670,217. 22.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On NeuroPace

Several institutional investors have recently bought and sold shares of NPCE. BNP Paribas Financial Markets purchased a new position in NeuroPace in the 4th quarter worth approximately $29,000. Wells Fargo & Company MN increased 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 buying an additional 2,279 shares during the period. MetLife Investment Management LLC bought a new stake in NeuroPace during the 4th quarter valued at $103,000. Cubist Systematic Strategies LLC purchased a new stake in NeuroPace during the 4th quarter valued at $112,000. Finally, Birchview Capital LP bought a new stake in NeuroPace in the 4th quarter worth $112,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

NeuroPace Trading Up 3.3 %

Shares of NPCE traded up $0.43 during mid-day trading on Wednesday, reaching $13.54. The company’s stock had a trading volume of 182,737 shares, compared to its average volume of 129,928. NeuroPace has a 52 week low of $5.45 and a 52 week high of $15.77. The stock has a market cap of $440.86 million, a PE ratio of -13.54 and a beta of 2.06. The company’s fifty day moving average price is $12.64 and its two-hundred day moving average price is $10.33. The company has a current ratio of 5.59, a quick ratio of 4.77 and a debt-to-equity ratio of 6.03.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.18) earnings per share for the quarter, topping 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 business had revenue of $21.47 million during the quarter, compared to the consensus estimate of $21.14 million. On average, analysts predict that NeuroPace will post -1 earnings per share for the current fiscal year.

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.