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

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

Wall Street Analyst Weigh In

Several brokerages have commented on NPCE. Wells Fargo & Company raised shares of NeuroPace to a “strong-buy” rating in a research note on Wednesday, March 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a report on Wednesday, June 24th. Finally, HC Wainwright upped their price objective on shares of NeuroPace from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, NeuroPace presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.83.

NeuroPace Price Performance

The company has a current ratio of 5.38, a quick ratio of 4.35 and a debt-to-equity ratio of 4.08. The company has a fifty day moving average price of $16.29 and a two-hundred day moving average price of $15.63. The firm has a market cap of $552.66 million, a P/E ratio of -24.94 and a beta of 1.88.

NeuroPace (NASDAQ:NPCE) last posted its earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. NeuroPace had a negative return on equity of 108.20% and a negative net margin of 21.67%.The business had revenue of $22.00 million during the quarter, compared to analysts’ expectations of $21.65 million. Equities analysts anticipate that NeuroPace, Inc. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On NeuroPace

Several institutional investors have recently added to or reduced their stakes in NPCE. Legal & General Group Plc increased its holdings in NeuroPace by 86.0% during the 2nd quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock worth $30,000 after purchasing an additional 1,239 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of NeuroPace during the second quarter worth about $35,000. Quarry LP boosted its position in shares of NeuroPace by 94.9% during the third quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after buying an additional 1,872 shares during the period. SG Americas Securities LLC bought a new position in shares of NeuroPace during the fourth quarter worth about $118,000. Finally, New York State Common Retirement Fund grew its holdings in shares of NeuroPace by 755.6% during the fourth quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock worth $119,000 after buying an additional 6,800 shares in the last quarter. 78.83% of the stock is 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.