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. Based on an average daily volume of 213,900 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.3% of the shares of the stock are sold short.

Insider Buying and Selling

In other NeuroPace news, insider Martha Morrell sold 3,200 shares of the firm’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 transaction, the insider now directly owns 87,062 shares of the company’s stock, valued at $1,306,800.62. This trade represents a 3.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ltd. Kck sold 5,270,845 shares of the business’s 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. 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 corporate insiders.

Institutional Trading of NeuroPace

Several institutional investors have recently added to or reduced their stakes in NPCE. State Street Corp boosted its stake in shares of NeuroPace by 9.1% in the third quarter. State Street Corp now owns 155,490 shares of the company’s stock valued at $1,084,000 after purchasing an additional 12,912 shares during the period. Barclays PLC lifted its holdings in NeuroPace by 346.0% during the 3rd quarter. Barclays PLC now owns 20,633 shares of the company’s stock worth $144,000 after buying an additional 16,007 shares in the last quarter. Geode Capital Management LLC boosted its position in NeuroPace by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 317,192 shares of the company’s stock valued at $2,211,000 after buying an additional 25,330 shares during the period. JPMorgan Chase & Co. grew 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 acquiring an additional 6,181 shares in the last quarter. Finally, KCK LTD. purchased a new stake in shares of NeuroPace during the fourth quarter worth $58,981,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

NeuroPace Trading Up 6.7 %

Shares of NeuroPace stock traded up $0.82 during trading hours on Tuesday, hitting $13.11. The company’s stock had a trading volume of 209,861 shares, compared to its average volume of 129,533. The stock has a market cap of $426.86 million, a price-to-earnings ratio of -13.11 and a beta of 2.06. The company has a debt-to-equity ratio of 6.03, a quick ratio of 4.77 and a current ratio of 5.59. NeuroPace has a twelve month low of $5.45 and a twelve month high of $15.77. The firm has a fifty day moving average of $12.64 and a 200-day moving average of $10.29.

NeuroPace (NASDAQ:NPCE) last posted its earnings results on Tuesday, March 4th. The company reported ($0.18) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $21.47 million for the quarter, compared to analysts’ expectations of $21.14 million. Research analysts forecast that NeuroPace will post -1 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on NeuroPace from $9.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Cantor Fitzgerald boosted 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. UBS Group began coverage on shares of NeuroPace in a research report on Tuesday, January 21st. They set a “buy” rating and a $17.00 price objective for the company. 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 note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, NeuroPace has a consensus rating of “Moderate Buy” and an average price target of $15.20.

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.