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Martha Morrell, the Chief Medical (TASE:PMCN) Officer of NeuroPace Inc (NASDAQ:NPCE), has recently sold shares of the company’s common stock. According to a recent SEC filing, Morrell sold 3,200 shares, generating a total of $48,032. The shares were sold at a weighted average price of $15.01, with transactions occurring at prices ranging from $15.00 to $15.04. The transaction comes as NeuroPace shows strong momentum, with the stock up 77% over the past six months. According to InvestingPro analysis, the company currently appears overvalued relative to its Fair Value.
Following this transaction, Morrell holds 87,062 shares in the company. The sale was executed under a Rule 10b5-1 trading plan, a pre-established plan allowing insiders to sell stocks at predetermined times to avoid concerns of insider trading. InvestingPro data reveals that NeuroPace maintains strong financial health with a current ratio of 5.59, while achieving 27% revenue growth in the last twelve months. Subscribers can access 8 additional ProTips and comprehensive analysis in the Pro Research Report.
In other recent news, NeuroPace Inc., a medical technology firm, has reported a significant 28% increase in third-quarter revenue, reaching a record $21.1 million, primarily driven by a 36% increase in sales of its RNS System. The company also noted a decrease in cash burn to $1.8 million and a strong cash balance of $56.8 million. Analysts at UBS have initiated coverage of NeuroPace with a Buy rating, citing the company’s unique RNS technology and a promising 22% compound annual growth rate (CAGR) from 2024 to 2029.
JPMorgan maintained its Overweight rating on NeuroPace and increased the price target to $14.00, projecting a CAGR of over 15% through 2029. These recent developments highlight the growing confidence of analysts in the company’s growth potential.
In addition to these financial highlights, NeuroPace has seen an increase in active prescribers and implants, largely due to the implementation of the Project CARE pilot program. The company has also made new appointments in marketing, R&D, and HR, strengthening its leadership team. Looking ahead, NeuroPace anticipates total revenue for 2024 to be between $78 million and $80 million.
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