NeuroPace, Inc. (NASDAQ:NPCE) Sees Large Growth in Short Interest

NeuroPace, Inc. (NASDAQ:NPCE - Get Free Report) saw a significant increase in short interest in the month of 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 trading volume of 213,900 shares, the days-to-cover ratio is presently 1.4 days. Approximately 1.3% of the company's stock are sold short.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NPCE. UBS Group initiated coverage on NeuroPace in a research note on Tuesday, January 21st. They set a "buy" rating and a $17.00 target price on the stock. Cantor Fitzgerald boosted 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. JPMorgan Chase & Co. increased their price objective on shares of NeuroPace from $9.00 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $15.20.

NeuroPace Stock Performance

Shares of NeuroPace stock traded down $0.78 on Friday, reaching $12.23. 221,302 shares of the stock were exchanged, compared to its average volume of 129,695. The business has a 50 day moving average price of $12.56 and a two-hundred day moving average price of $10.43. The firm has a market capitalization of $398.21 million, a price-to-earnings ratio of -12.23 and a beta of 2.03. NeuroPace has a twelve month low of $5.45 and a twelve month high of $15.77. The company has a quick ratio of 4.77, a current ratio of 5.59 and a debt-to-equity ratio of 6.03.

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NeuroPace (NASDAQ:NPCE - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.18) EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $21.14 million. Analysts anticipate that NeuroPace will post -1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Ltd. Kck sold 5,270,845 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $9.40, for a total value of $49,545,943.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martha Morrell sold 78,334 shares of the company's stock in a transaction on 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 sale, the insider now owns 81,993 shares of the company's stock, valued at approximately $1,124,943.96. This represents a 48.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,352,479 shares of company stock valued at $50,670,217 over the last three months. 22.20% of the stock is owned by company insiders.

Institutional Trading of NeuroPace

A number of hedge funds have recently modified their holdings of the stock. KCK LTD. purchased a new position in NeuroPace during the fourth quarter valued at approximately $58,981,000. Barclays PLC increased its holdings in shares of NeuroPace by 346.0% during the 3rd quarter. Barclays PLC now owns 20,633 shares of the company's stock valued at $144,000 after purchasing an additional 16,007 shares in the last quarter. State Street Corp increased its holdings in shares of NeuroPace by 9.1% during the 3rd 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 in the last quarter. Geode Capital Management LLC boosted its holdings in NeuroPace by 8.7% during the third quarter. Geode Capital Management LLC now owns 317,192 shares of the company's stock worth $2,211,000 after buying an additional 25,330 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in NeuroPace by 106.3% during the third quarter. JPMorgan Chase & Co. now owns 11,997 shares of the company's stock valued at $84,000 after buying an additional 6,181 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.