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

NeuroPace, Inc. (NASDAQ:NPCE) was the target 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. Based on an average daily trading volume, of 213,900 shares, the days-to-cover ratio is currently 1.4 days. Approximately 1.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

NPCE has been the subject of several analyst reports. 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 for the company. JPMorgan Chase & Co. upped their price target on NeuroPace from $9.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Cantor Fitzgerald increased their price target on shares of NeuroPace from $19.00 to $20.00 and gave the company an “overweight” rating in a research note on Wednesday, March 5th. Finally, Wells Fargo & Company boosted their price objective 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 investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.20.

NeuroPace Stock Performance

Shares of NASDAQ NPCE traded up $0.82 during trading hours on Tuesday, reaching $13.11. The stock had a trading volume of 209,861 shares, compared to its average volume of 129,533. The firm has a 50-day moving average of $12.64 and a 200-day moving average of $10.29. The firm 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 current ratio of 5.59, a quick ratio of 4.77 and a debt-to-equity ratio of 6.03. NeuroPace has a fifty-two week low of $5.45 and a fifty-two week high of $15.77.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings data on Tuesday, March 4th. The company reported ($0.18) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.07. The business had revenue of $21.47 million during the quarter, compared to the consensus estimate of $21.14 million. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. Equities research analysts predict that NeuroPace will post -1 earnings per share for the current year.

Insider Transactions at NeuroPace

In related news, insider Martha Morrell sold 3,200 shares of NeuroPace 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 completion of the transaction, the insider now owns 87,062 shares in the company, valued at $1,306,800.62. The trade was a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were 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. Over the last ninety days, insiders sold 5,352,479 shares of company stock valued at $50,670,217. 22.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.