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KCK LTD., a significant shareholder in NeuroPace Inc (NASDAQ:NPCE), has sold a substantial portion of its holdings in the company. According to a recent filing with the Securities and Exchange Commission, KCK LTD. disposed of 5,270,845 shares of NeuroPace common stock on February 20, 2025. The shares were sold at a price of $9.40 each, resulting in a total transaction value of approximately $49.5 million. The sale comes amid strong recent performance, with the stock showing an 86% gain over the past six months and trading near $13 currently. According to InvestingPro analysis, the stock appears overvalued at current levels.
Following this transaction, KCK LTD. no longer holds any shares of NeuroPace, as indicated in the filing. The sale was executed under direct ownership, as noted in the report. With the company’s next earnings report due on March 5, InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report. NeuroPace, headquartered in Mountain View, California, specializes in surgical and medical instruments and apparatus, maintaining strong liquidity with a current ratio of 5.59.
In other recent news, NeuroPace Inc. announced plans for a $65 million public stock offering, with an additional option for underwriters to purchase extra shares. The proceeds are intended to repurchase shares from significant shareholder KCK Ltd. and support general corporate needs. The company’s audit committee has approved the repurchase arrangement, and the transaction will follow the equity offering’s completion. In analyst updates, UBS initiated coverage on NeuroPace with a Buy rating and a $17.00 price target, citing optimism about the company’s revenue growth potential and market expansion. UBS projects a compound annual growth rate of approximately 22% from 2024 to 2029, slightly above the consensus estimate. JPMorgan maintained its Overweight rating and raised its price target to $14.00, highlighting the RNS system’s clinical superiority and potential for market growth. JPMorgan anticipates a growth rate of over 15% through 2029, driven by the RNS system’s unique capabilities. These developments position NeuroPace as a company to watch in the epilepsy treatment market.
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