NeuroPace (NASDAQ:NPCE) Shares Down 5.8% – What’s Next?

NeuroPace, Inc. (NASDAQ:NPCE)’s share price dropped 5.8% on Tuesday . The company traded as low as $16.23 and last traded at $16.1230. Approximately 56,448 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 200,108 shares. The stock had previously closed at $17.12.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NPCE. HC Wainwright upped their price objective on NeuroPace from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a report on Wednesday, June 24th. Finally, Wells Fargo & Company upgraded shares of NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 18th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $18.83.

NeuroPace Trading Down 6.3%

The firm has a market cap of $546.80 million, a price-to-earnings ratio of -24.72 and a beta of 1.88. The company has a debt-to-equity ratio of 4.08, a quick ratio of 4.35 and a current ratio of 5.38. The business has a fifty day moving average of $16.35 and a two-hundred day moving average of $15.63.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The firm had revenue of $22.00 million during the quarter, compared to the consensus estimate of $21.65 million. NeuroPace had a negative return on equity of 108.20% and a negative net margin of 21.67%. As a group, equities analysts expect that NeuroPace, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NPCE. First Light Asset Management LLC raised its stake in shares of NeuroPace by 82.3% during the 1st quarter. First Light Asset Management LLC now owns 2,459,966 shares of the company’s stock worth $32,349,000 after buying an additional 1,110,484 shares during the last quarter. Lazard Asset Management LLC grew its stake in NeuroPace by 9.8% in the 1st quarter. Lazard Asset Management LLC now owns 124,305 shares of the company’s stock valued at $1,635,000 after acquiring an additional 11,078 shares during the last quarter. Sei Investments Co. grew its stake in NeuroPace by 51.4% in the 1st quarter. Sei Investments Co. now owns 121,476 shares of the company’s stock valued at $1,597,000 after acquiring an additional 41,233 shares during the last quarter. SG Americas Securities LLC increased its holdings in NeuroPace by 52.9% during the 1st quarter. SG Americas Securities LLC now owns 11,640 shares of the company’s stock valued at $153,000 after acquiring an additional 4,029 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in NeuroPace during the 4th quarter valued at about $184,000. Hedge funds and other 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.