Short Interest in NeuroPace, Inc. (NASDAQ:NPCE) Increases By 45.8%

NeuroPace, Inc. (NASDAQ:NPCE) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 449,600 shares, an increase of 45.8% from the March 15th total of 308,300 shares. Based on an average daily trading volume, of 242,200 shares, the short-interest ratio is currently 1.9 days. Approximately 2.0% of the shares of the company are short sold.

NeuroPace Price Performance

NPCE stock traded up $0.36 during mid-day trading on Friday, hitting $10.79. 173,059 shares of the stock were exchanged, compared to its average volume of 129,912. The business has a fifty day moving average price of $11.94 and a 200 day moving average price of $10.69. NeuroPace has a 12 month low of $5.45 and a 12 month high of $15.11. The company has a debt-to-equity ratio of 6.03, a current ratio of 5.59 and a quick ratio of 4.77. The stock has a market capitalization of $351.32 million, a price-to-earnings ratio of -10.79 and a beta of 2.03.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NPCE. Cantor Fitzgerald increased their price objective on NeuroPace from $19.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 5th. Wells Fargo & Company upped their target price on NeuroPace from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, UBS Group initiated coverage on NeuroPace in a research report on Tuesday, January 21st. They set a “buy” rating and a $17.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.20.

Insider Buying and Selling

In related news, insider Martha Morrell sold 78,334 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $13.72, for a total transaction of $1,074,742.48. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $49,545,943.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,352,479 shares of company stock valued at $50,670,217. Company insiders own 22.20% of the company’s stock.

Institutional Investors Weigh In On NeuroPace

Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers raised its position in NeuroPace by 15.2% in the 1st quarter. Rhumbline Advisers now owns 17,227 shares of the company’s stock worth $212,000 after purchasing an additional 2,267 shares during the period. Wells Fargo & Company MN grew its stake in shares of NeuroPace by 54.2% during the fourth quarter. Wells Fargo & Company MN now owns 6,483 shares of the company’s stock valued at $73,000 after buying an additional 2,279 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of NeuroPace in the fourth quarter worth about $29,000. GAMMA Investing LLC bought a new stake in shares of NeuroPace in the 1st quarter valued at about $53,000. Finally, Financial Advocates Investment Management boosted its holdings in NeuroPace by 27.8% during the 4th quarter. Financial Advocates Investment Management now owns 23,000 shares of the company’s stock valued at $257,000 after acquiring an additional 5,000 shares during the period. 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.