NeuroPace, Inc. (NASDAQ:NPCE) Short Interest Update

NeuroPace, Inc. (NASDAQ:NPCE) was the target of a large drop in short interest during the month of January. As of January 31st, there was short interest totalling 219,400 shares, a drop of 17.8% from the January 15th total of 267,000 shares. Based on an average daily volume of 119,100 shares, the short-interest ratio is presently 1.8 days. Currently, 1.6% of the company’s shares are short sold.

Insider Buying and Selling

In other NeuroPace news, insider Martha Morrell sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $15.01, for a total transaction of $48,032.00. Following the completion of the transaction, the insider now owns 87,062 shares in the company, valued at approximately $1,306,800.62. This trade represents a 3.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 22.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of NeuroPace by 54.2% during the 4th 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 in the last quarter. JPMorgan Chase & Co. raised 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 purchasing an additional 6,181 shares in the last quarter. MetLife Investment Management LLC bought a new stake in NeuroPace during the fourth quarter worth about $103,000. Birchview Capital LP purchased a new position in shares of NeuroPace in the 4th quarter worth about $112,000. Finally, Financial Advocates Investment Management increased its position in shares of NeuroPace by 20.0% during the 3rd quarter. Financial Advocates Investment Management now owns 18,000 shares of the company’s stock valued at $125,000 after purchasing an additional 3,000 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

NeuroPace Price Performance

NASDAQ NPCE opened at $12.31 on Friday. The company has a quick ratio of 4.77, a current ratio of 5.59 and a debt-to-equity ratio of 6.03. The company has a market cap of $367.45 million, a PE ratio of -12.31 and a beta of 2.05. NeuroPace has a 52 week low of $5.45 and a 52 week high of $18.15. The firm’s 50-day simple moving average is $12.25 and its two-hundred day simple moving average is $9.22.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. UBS Group initiated coverage on shares of NeuroPace in a research note on Tuesday, January 21st. They set a “buy” rating and a $17.00 target price on the stock. JPMorgan Chase & Co. increased their price objective on shares of NeuroPace from $9.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Wells Fargo & Company boosted their target price on NeuroPace from $13.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.80.

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.