NeuroPace (NASDAQ:NPCE) Trading Down 4.3% – What’s Next?

NeuroPace, Inc. (NASDAQ:NPCE)’s share price dropped 4.3% during trading on Friday . The stock traded as low as $11.78 and last traded at $11.85. Approximately 168,073 shares traded hands during trading, an increase of 30% from the average daily volume of 128,856 shares. The stock had previously closed at $12.38.

Analyst Ratings Changes

A number of brokerages recently weighed in on NPCE. Cantor Fitzgerald raised their price objective on NeuroPace from $19.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. lifted their target price on shares of NeuroPace from $9.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. UBS Group initiated coverage on NeuroPace in a report on Tuesday, January 21st. They set a “buy” rating and a $17.00 target price for the company. Finally, Wells Fargo & Company raised their price target on shares of NeuroPace from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, NeuroPace has an average rating of “Moderate Buy” and a consensus price target of $15.20.

NeuroPace Stock Down 4.3 %

The firm has a market capitalization of $385.84 million, a PE ratio of -11.85 and a beta of 2.06. The company’s fifty day simple moving average is $12.63 and its 200 day simple moving average is $10.21. The company has a quick ratio of 4.77, a current ratio of 5.59 and a debt-to-equity ratio of 6.03.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, March 4th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.07. The firm had revenue of $21.47 million for the quarter, compared to the consensus estimate of $21.14 million. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. Analysts anticipate that NeuroPace, Inc. will post -1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Ltd. Kck sold 5,270,845 shares of NeuroPace stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $9.40, for a total value of $49,545,943.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Martha Morrell sold 3,200 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $15.01, for a total transaction of $48,032.00. Following the sale, the insider now directly owns 87,062 shares in the company, valued at $1,306,800.62. This trade represents a 3.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,352,479 shares of company stock worth $50,670,217 in the last 90 days. Insiders own 22.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in shares of NeuroPace during the fourth quarter valued at approximately $29,000. Wells Fargo & Company MN boosted its stake in NeuroPace by 54.2% during the 4th quarter. Wells Fargo & Company MN now owns 6,483 shares of the company’s stock valued at $73,000 after purchasing an additional 2,279 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in NeuroPace by 106.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,997 shares of the company’s stock valued at $84,000 after purchasing an additional 6,181 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of NeuroPace in the 4th quarter worth $103,000. Finally, Birchview Capital LP purchased a new position in shares of NeuroPace in the fourth quarter worth $112,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

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.