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

Shares of NeuroPace, Inc. (NASDAQ:NPCE) fell 4.3% on Friday . The stock traded as low as $11.78 and last traded at $11.85. 168,073 shares were traded during mid-day trading, an increase of 30% from the average session volume of 128,856 shares. The stock had previously closed at $12.38.

Analyst Upgrades and Downgrades

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

NeuroPace Stock Performance

The company has a debt-to-equity ratio of 6.03, a current ratio of 5.59 and a quick ratio of 4.77. 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.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.07. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. The company had revenue of $21.47 million during the quarter, compared to the consensus estimate of $21.14 million. As a group, equities research analysts expect that NeuroPace, Inc. will post -1 EPS for the current fiscal year.

Insider Activity at NeuroPace

In other news, insider Martha Morrell sold 78,334 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $13.72, for a total transaction of $1,074,742.48. Following the completion of the transaction, the insider now directly owns 81,993 shares in the company, valued at $1,124,943.96. The trade was a 48.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ltd. Kck sold 5,270,845 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $9.40, for a total transaction of $49,545,943.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,352,479 shares of company stock worth $50,670,217. 22.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On NeuroPace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NPCE. KCK LTD. bought a new stake in shares of NeuroPace during the 4th quarter valued at about $58,981,000. Barclays PLC lifted its position in NeuroPace by 346.0% during the third quarter. Barclays PLC now owns 20,633 shares of the company’s stock valued at $144,000 after purchasing an additional 16,007 shares during the last quarter. State Street Corp lifted its position in NeuroPace by 9.1% during the third quarter. State Street Corp now owns 155,490 shares of the company’s stock valued at $1,084,000 after purchasing an additional 12,912 shares during the last quarter. Geode Capital Management LLC grew its stake in NeuroPace by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 317,192 shares of the company’s stock worth $2,211,000 after buying an additional 25,330 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of NeuroPace by 106.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,997 shares of the company’s stock worth $84,000 after buying an additional 6,181 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

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.