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

NeuroPace, Inc. (NASDAQ:NPCE - Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 449,600 shares, a growth of 45.8% from the March 15th total of 308,300 shares. Approximately 2.0% of the company's stock are short sold. Based on an average daily volume of 242,200 shares, the days-to-cover ratio is currently 1.9 days.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NPCE shares. Cantor Fitzgerald boosted 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. UBS Group assumed 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, Wells Fargo & Company increased their price target on NeuroPace from $13.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $15.20.

NeuroPace Price Performance

NASDAQ:NPCE traded down $0.03 during trading hours on Wednesday, hitting $10.91. The stock had a trading volume of 75,691 shares, compared to its average volume of 223,141. The company has a 50 day simple moving average of $11.86 and a two-hundred day simple moving average of $10.79. The firm has a market capitalization of $355.23 million, a price-to-earnings ratio of -10.91 and a beta of 2.03. The company has a debt-to-equity ratio of 6.03, a current ratio of 5.59 and a quick ratio of 4.77. NeuroPace has a one year low of $5.45 and a one year high of $15.11.

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

Insider Buying and Selling at NeuroPace

In other news, insider Martha Morrell sold 3,200 shares of the stock in a transaction dated 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 sale, the insider now owns 87,062 shares in the company, valued at $1,306,800.62. This represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Ltd. Kck sold 5,270,845 shares of the company's stock in a transaction dated 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 90 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 and hedge funds have recently made changes to their positions in NPCE. Palumbo Wealth Management LLC increased its stake in NeuroPace by 300.4% in the first quarter. Palumbo Wealth Management LLC now owns 46,111 shares of the company's stock valued at $567,000 after acquiring an additional 34,594 shares during the last quarter. Rhumbline Advisers increased its position in shares of NeuroPace by 15.2% during the 1st quarter. Rhumbline Advisers now owns 17,227 shares of the company's stock valued at $212,000 after purchasing an additional 2,267 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of NeuroPace during the 1st quarter valued at about $53,000. Two Sigma Advisers LP purchased a new stake in NeuroPace in the fourth quarter worth approximately $117,000. Finally, Two Sigma Investments LP bought a new position in NeuroPace during the fourth quarter valued at approximately $293,000. 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.