NeuroPace (NASDAQ:NPCE) Price Target Cut to $13.00 by Analysts at Wells Fargo & Company

NeuroPace (NASDAQ:NPCE) had its price target decreased by Wells Fargo & Company from $15.00 to $13.00 in a research report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Separately, Cantor Fitzgerald reissued an “overweight” rating and issued a $18.00 price objective on shares of NeuroPace in a report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.60.

NeuroPace Stock Performance

NPCE opened at $8.98 on Wednesday. The company has a current ratio of 5.59, a quick ratio of 5.47 and a debt-to-equity ratio of 6.03. The company has a market cap of $262.19 million, a price-to-earnings ratio of -8.98 and a beta of 1.79. The company’s 50 day moving average is $6.93 and its 200 day moving average is $7.44. NeuroPace has a 12-month low of $5.45 and a 12-month high of $18.15.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The company had revenue of $21.06 million for the quarter, compared to the consensus estimate of $19.33 million. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. During the same quarter last year, the firm posted ($0.28) earnings per share. On average, equities research analysts predict that NeuroPace will post -1.08 EPS for the current year.

Insider Buying and Selling at NeuroPace

In other news, major shareholder Ltd. Kck sold 4,910 shares of NeuroPace stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $6.66, for a total transaction of $32,700.60. Following the sale, the insider now owns 5,540,104 shares in the company, valued at $36,897,092.64. This trade represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 257,590 shares of company stock valued at $1,437,916 over the last 90 days. 22.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NeuroPace

Several institutional investors and hedge funds have recently modified their holdings of NPCE. Vanguard Group Inc. increased its position in NeuroPace by 18.3% in the first quarter. Vanguard Group Inc. now owns 488,618 shares of the company’s stock worth $6,450,000 after purchasing an additional 75,512 shares during the last quarter. Acadian Asset Management LLC bought a new stake in NeuroPace in the first quarter worth $621,000. Hillsdale Investment Management Inc. bought a new stake in NeuroPace in the first quarter worth $155,000. Bank of New York Mellon Corp bought a new stake in NeuroPace in the second quarter worth $257,000. Finally, Financial Advocates Investment Management increased its position in NeuroPace by 50.0% in the second quarter. Financial Advocates Investment Management now owns 15,000 shares of the company’s stock worth $113,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

About NeuroPace

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.