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

NeuroPace, Inc. (NASDAQ:NPCE) was the recipient of a significant decrease in short interest in January. As of January 31st, there was short interest totalling 219,400 shares, a decrease of 17.8% from the January 15th total of 267,000 shares. Based on an average daily volume of 119,100 shares, the days-to-cover ratio is currently 1.8 days. Currently, 1.6% of the shares of the company are short sold.

Insider Activity

In other news, insider Martha Morrell sold 3,200 shares of NeuroPace stock in a transaction that occurred on 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 directly owns 87,062 shares in the company, valued at $1,306,800.62. The trade was a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 22.20% of the company’s stock.

Hedge Funds Weigh In On NeuroPace

Several institutional investors and hedge funds have recently bought and sold shares of the stock. KCK LTD. bought a new position in shares of NeuroPace in the fourth quarter worth about $58,981,000. Jane Street Group LLC purchased a new stake in NeuroPace in the 4th quarter worth approximately $1,120,000. JPMorgan Chase & Co. raised its stake in NeuroPace by 440.4% during the 4th quarter. JPMorgan Chase & Co. now owns 64,826 shares of the company’s stock worth $725,000 after acquiring an additional 52,829 shares during the period. Walleye Capital LLC bought a new stake in NeuroPace during the 4th quarter worth approximately $319,000. Finally, Geode Capital Management LLC lifted 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 valued at $2,211,000 after purchasing an additional 25,330 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NPCE has been the subject of a number of research analyst reports. 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 report on Thursday, January 30th. JPMorgan Chase & Co. upped their price objective on NeuroPace from $9.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, UBS Group assumed coverage on NeuroPace in a report on Tuesday, January 21st. They issued a “buy” rating and a $17.00 target price on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.80.

NeuroPace Trading Up 1.8 %

Shares of NeuroPace stock opened at $12.31 on Monday. 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 $367.45 million, a PE ratio of -12.31 and a beta of 2.05. NeuroPace has a 1-year low of $5.45 and a 1-year high of $18.15. The company’s fifty day simple moving average is $12.25 and its 200-day simple moving average is $9.23.

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.