Shares of NeuroPace, Inc. (NASDAQ:NPCE – Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $15.05, but opened at $14.16. NeuroPace shares last traded at $15.0110, with a volume of 23,565 shares traded.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on NPCE. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of NeuroPace in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a research note on Wednesday, June 24th. Mizuho assumed coverage on NeuroPace in a report on Thursday, July 23rd. They set an “outperform” rating and a $22.00 price objective for the company. Finally, Guggenheim reissued a “neutral” rating on shares of NeuroPace in a research report on Wednesday, July 29th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.29.
Get Our Latest Research Report on NPCE
NeuroPace Stock Down 0.3%
NeuroPace (NASDAQ:NPCE – Get Free Report) last posted its earnings results on Tuesday, August 11th. The company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.04. NeuroPace had a negative net margin of 19.34% and a negative return on equity of 97.34%. The firm had revenue of $22.83 million for the quarter, compared to the consensus estimate of $22.61 million. As a group, equities research analysts anticipate that NeuroPace, Inc. will post -0.54 EPS for the current year.
Institutional Investors Weigh In On NeuroPace
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of NeuroPace in the second quarter valued at approximately $39,369,000. First Light Asset Management LLC grew its stake in NeuroPace by 82.3% in the 1st quarter. First Light Asset Management LLC now owns 2,459,966 shares of the company’s stock valued at $32,349,000 after buying an additional 1,110,484 shares during the last quarter. Vanguard Group Inc. grew its stake in NeuroPace by 4.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,435,850 shares of the company’s stock valued at $14,804,000 after buying an additional 66,574 shares during the last quarter. Armistice Capital LLC raised its holdings in NeuroPace by 12.6% in the 3rd quarter. Armistice Capital LLC now owns 1,298,000 shares of the company’s stock worth $13,382,000 after acquiring an additional 145,665 shares during the period. Finally, Deutsche Bank AG bought a new position in NeuroPace in the 2nd quarter worth $14,919,000. 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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