Short Interest in NeuroPace, Inc. (NASDAQ:NPCE) Grows By 178.0%

NeuroPace, Inc. (NASDAQ:NPCE - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 85,900 shares, a growth of 178.0% from the March 15th total of 30,900 shares. Currently, 0.7% of the company's stock are sold short. Based on an average daily volume of 98,900 shares, the short-interest ratio is presently 0.9 days.

Insider Activity at NeuroPace

In related news, insider Martha Morrell sold 1,923 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $15.08, for a total transaction of $28,998.84. Following the completion of the transaction, the insider now directly owns 96,014 shares of the company's stock, valued at $1,447,891.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 27.50% of the company's stock.

Institutional Investors Weigh In On NeuroPace

A number of large investors have recently added to or reduced their stakes in the stock. Kent Lake Capital LLC boosted its holdings in shares of NeuroPace by 285.0% in the 3rd quarter. Kent Lake Capital LLC now owns 574,417 shares of the company's stock valued at $5,589,000 after purchasing an additional 425,212 shares in the last quarter. Nantahala Capital Management LLC boosted its holdings in shares of NeuroPace by 58.6% in the 1st quarter. Nantahala Capital Management LLC now owns 485,303 shares of the company's stock valued at $3,984,000 after purchasing an additional 179,397 shares in the last quarter. EAM Investors LLC acquired a new stake in shares of NeuroPace in the 3rd quarter valued at $1,378,000. Millennium Management LLC boosted its holdings in shares of NeuroPace by 18.2% in the 4th quarter. Millennium Management LLC now owns 691,899 shares of the company's stock valued at $1,031,000 after purchasing an additional 106,532 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of NeuroPace by 3.1% in the 4th quarter. Morgan Stanley now owns 2,188,593 shares of the company's stock valued at $3,261,000 after purchasing an additional 64,990 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. SVB Leerink assumed coverage on NeuroPace in a research note on Tuesday, January 30th. They issued an "outperform" rating and a $22.00 price objective on the stock. Leerink Partnrs restated an "outperform" rating on shares of NeuroPace in a research note on Tuesday, January 30th. Morgan Stanley upped their price objective on NeuroPace from $9.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 6th. Cantor Fitzgerald increased their target price on NeuroPace from $16.00 to $18.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company upgraded NeuroPace from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $16.00 to $20.00 in a research note on Thursday, March 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, NeuroPace presently has an average rating of "Moderate Buy" and an average price target of $15.67.

NeuroPace Stock Performance

Shares of NASDAQ NPCE traded down $0.01 during trading hours on Thursday, reaching $14.51. 518,147 shares of the stock were exchanged, compared to its average volume of 104,001. The firm has a market capitalization of $381.19 million, a price-to-earnings ratio of -11.33 and a beta of 2.08. The company has a debt-to-equity ratio of 2.76, a quick ratio of 5.02 and a current ratio of 5.71. NeuroPace has a 52 week low of $3.80 and a 52 week high of $18.15. The stock's fifty day simple moving average is $14.75 and its 200 day simple moving average is $11.18.

NeuroPace (NASDAQ:NPCE - Get Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.33) by $0.10. The business had revenue of $18.01 million for the quarter, compared to the consensus estimate of $17.74 million. NeuroPace had a negative return on equity of 153.76% and a negative net margin of 50.38%. Sell-side analysts predict that NeuroPace will post -1.14 EPS for the current year.

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.

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