NeuroPace (NASDAQ:NPCE) Sees Strong Trading Volume – Here’s Why

Shares of NeuroPace, Inc. (NASDAQ:NPCE) saw an uptick in trading volume on Tuesday . 381,518 shares were traded during trading, an increase of 102% from the previous session’s volume of 188,499 shares.The stock last traded at $16.93 and had previously closed at $15.86.

Wall Street Analysts Forecast Growth

NPCE has been the topic of a number of recent research reports. Leerink Partners restated an “outperform” rating and issued a $19.00 price target on shares of NeuroPace in a research report on Wednesday, November 5th. JPMorgan Chase & Co. raised their price target on NeuroPace from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research note on Monday, December 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $16.00 target price on shares of NeuroPace in a research report on Wednesday, November 5th. Finally, UBS Group boosted their price target on shares of NeuroPace from $18.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Six research analysts have rated the stock with 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

NeuroPace Trading Up 3.0%

The firm has a 50-day moving average of $14.65 and a 200 day moving average of $11.50. The company has a current ratio of 4.86, a quick ratio of 3.94 and a debt-to-equity ratio of 3.17. The stock has a market capitalization of $544.29 million, a price-to-earnings ratio of -21.56 and a beta of 1.85.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.09. NeuroPace had a negative return on equity of 136.60% and a negative net margin of 25.28%.The company had revenue of $27.35 million during the quarter, compared to analysts’ expectations of $24.64 million. As a group, equities analysts predict that NeuroPace, Inc. will post -1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NPCE. Ameritas Investment Partners Inc. raised its holdings in NeuroPace by 83.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,455 shares of the company’s stock worth $27,000 after purchasing an additional 1,118 shares in the last quarter. Legal & General Group Plc increased its position in shares of NeuroPace by 86.0% during the 2nd quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock valued at $30,000 after purchasing an additional 1,239 shares during the period. GSA Capital Partners LLP raised its stake in shares of NeuroPace by 2.5% in the 3rd quarter. GSA Capital Partners LLP now owns 54,536 shares of the company’s stock worth $562,000 after buying an additional 1,323 shares in the last quarter. Quarry LP lifted its holdings in shares of NeuroPace by 94.9% in the third quarter. Quarry LP now owns 3,845 shares of the company’s stock valued at $40,000 after buying an additional 1,872 shares during the period. Finally, Rhumbline Advisers boosted its stake in NeuroPace by 15.2% during the first quarter. Rhumbline Advisers now owns 17,227 shares of the company’s stock valued at $212,000 after buying an additional 2,267 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

NeuroPace Company Profile

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.