NeuroPace, Inc. (NASDAQ:NPCE – Get Free Report) shares fell 11.5% during trading on Monday . The stock traded as low as $16.62 and last traded at $16.2450. 193,569 shares changed hands during trading, a decline of 7% from the average session volume of 209,050 shares. The stock had previously closed at $18.35.
Analyst Ratings Changes
Several research firms have weighed in on NPCE. HC Wainwright upped their target price on NeuroPace from $18.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, January 27th. Cantor Fitzgerald upgraded NeuroPace to a “strong-buy” rating in a research note on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a report on Friday, March 27th. UBS Group restated a “buy” rating on shares of NeuroPace in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company raised NeuroPace to a “strong-buy” rating in a research note on Wednesday, March 18th. Two research 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 issued a Sell rating to the company. According to MarketBeat, NeuroPace has a consensus rating of “Moderate Buy” and a consensus price target of $18.67.
Check Out Our Latest Report on NeuroPace
NeuroPace Stock Performance
NeuroPace (NASDAQ:NPCE – Get Free Report) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. The firm had revenue of $26.59 million for the quarter, compared to analysts’ expectations of $24.79 million. NeuroPace had a negative net margin of 21.47% and a negative return on equity of 105.67%. As a group, equities analysts predict that NeuroPace, Inc. will post -0.51 earnings per share for the current fiscal year.
Institutional Investors Weigh In On NeuroPace
Hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc increased its holdings in NeuroPace by 86.0% in 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. GSA Capital Partners LLP boosted its stake in shares of NeuroPace by 2.5% during the third quarter. GSA Capital Partners LLP now owns 54,536 shares of the company’s stock valued at $562,000 after purchasing an additional 1,323 shares in the last quarter. Quarry LP grew its holdings 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 purchasing an additional 1,872 shares during the last quarter. Man Group plc grew its holdings in shares of NeuroPace by 9.7% during the fourth quarter. Man Group plc now owns 21,626 shares of the company’s stock worth $334,000 after purchasing an additional 1,920 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of NeuroPace by 23.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 14,836 shares of the company’s stock valued at $230,000 after buying an additional 2,778 shares during the period. Institutional investors own 78.83% of the company’s stock.
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.
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