NeuroPace (NASDAQ:NPCE) Stock Price Up 1.1% - What's Next?

Key Points

• NeuroPace shares rose 1.1% in Thursday trading, reaching as high as $17.07 before settling at $16.97. Trading volume was lighter than usual, with about 90,776 shares changing hands, down 48% from the average.
• Recent analyst sentiment has been mixed, but the overall view remains Moderate Buy with a consensus price target of $18.83. Ratings ranged from a downgrade by Wall Street Zen to a “strong-buy” from Wells Fargo, while HC Wainwright raised its target to $20.
• The company’s latest earnings beat expectations, reporting EPS of -$0.13 versus the expected -$0.19 and revenue of $22.0 million, slightly above estimates. Institutional investors continue to hold a large stake in the company, owning 78.83% of the shares.

NeuroPace, Inc. (NASDAQ:NPCE - Get Free Report)'s stock price traded up 1.1% during mid-day trading on Thursday . The stock traded as high as $17.07 and last traded at $16.97. Approximately 90,776 shares traded hands during trading, a decline of 48% from the average daily volume of 175,229 shares. The stock had previously closed at $16.78.

Analyst Ratings Changes

NPCE has been the topic of several recent analyst reports. Wall Street Zen downgraded NeuroPace from a "buy" rating to a "hold" rating in a report on Sunday, March 15th. Wells Fargo & Company upgraded NeuroPace to a "strong-buy" rating in a report on Wednesday, March 18th. HC Wainwright upped their price objective on NeuroPace from $19.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of NeuroPace in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.83.

NeuroPace Trading Up 1.1%

The stock's 50-day moving average price is $16.33 and its 200 day moving average price is $15.62. The company has a debt-to-equity ratio of 4.08, a current ratio of 5.38 and a quick ratio of 4.35. The firm has a market capitalization of $578.51 million, a PE ratio of -26.11 and a beta of 1.88.

NeuroPace (NASDAQ:NPCE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.06. The firm had revenue of $22.00 million during the quarter, compared to analyst estimates of $21.65 million. NeuroPace had a negative return on equity of 108.20% and a negative net margin of 21.67%. On average, sell-side analysts expect that NeuroPace, Inc. will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On NeuroPace

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. First Light Asset Management LLC raised its holdings in shares of NeuroPace by 82.3% in the first quarter. First Light Asset Management LLC now owns 2,459,966 shares of the company's stock valued at $32,349,000 after acquiring an additional 1,110,484 shares in the last quarter. Kotler Kevin bought a new position in NeuroPace during the 4th quarter worth about $9,750,000. Walleye Capital LLC increased its position in NeuroPace by 344.6% during the 4th quarter. Walleye Capital LLC now owns 228,847 shares of the company's stock valued at $3,533,000 after purchasing an additional 177,375 shares during the period. Geode Capital Management LLC increased its position in NeuroPace by 44.6% during the 2nd quarter. Geode Capital Management LLC now owns 485,162 shares of the company's stock valued at $5,406,000 after purchasing an additional 149,595 shares during the period. Finally, Armistice Capital LLC raised its holdings in shares of NeuroPace by 12.6% in the 3rd quarter. Armistice Capital LLC now owns 1,298,000 shares of the company's stock valued at $13,382,000 after purchasing an additional 145,665 shares in the last quarter. Institutional investors own 78.83% of the company's stock.

About NeuroPace

NeuroPace, Inc is a medical device company based in Mountain View, California, that develops innovative neuromodulation systems for the treatment of neurological disorders. Founded in the late 1990s out of research at Stanford University, the company's mission centers on delivering closed-loop, “smart” therapies that monitor and respond to electrical activity in the brain. In 2020, NeuroPace completed its initial public offering and now trades on the NASDAQ under the ticker NPCE.

The company's flagship product, the RNS® System, is an implantable device designed for adults with medically refractory focal epilepsy.

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