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Martha Morrell, the Chief Medical (TASE:BLWV) Officer of NeuroPace Inc (NASDAQ:NPCE), recently sold 78,334 shares of the company’s common stock. The sale, executed on February 21, was part of a pre-established trading plan and fetched a total of approximately $1.07 million. The shares were sold at a weighted average price of $13.7213, with individual transaction prices ranging from $13.25 to $14.21. Following this transaction, Morrell retains ownership of 81,993 shares in the company. With the company’s next earnings report scheduled for March 4, investors seeking deeper insights can access comprehensive analysis through InvestingPro, which offers exclusive ProTips and detailed financial metrics for informed decision-making.
In other recent news, NeuroPace Inc. announced plans for a $65 million underwritten public stock offering. The offering includes an option for underwriters to purchase an additional 15% of shares, with proceeds aimed at repurchasing shares from significant stockholder KCK Ltd. and supporting general corporate needs. NeuroPace concurrently revealed an agreement to repurchase all of KCK’s common stock holdings, which constituted approximately 17.5% of the company’s outstanding shares, in a private transaction. The repurchase price will align with the price offered to underwriters in the public offering.
In analyst updates, UBS initiated coverage on NeuroPace with a Buy rating, highlighting its RNS technology as a unique solution in the drug-resistant epilepsy market, and projected a 22% compound annual growth rate in revenue from 2024 to 2029. JPMorgan maintained its Overweight rating and increased the price target to $14.00, citing the RNS system’s clinical superiority and potential for robust long-term growth. The firm also anticipates a positive financial trajectory for NeuroPace, including a path to positive free cash flow. These developments reflect significant investor interest and potential market expansion for NeuroPace.
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