NeuroPace (NASDAQ:NPCE) Given “Overweight” Rating at Cantor Fitzgerald

NeuroPace (NASDAQ:NPCE)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They currently have a $17.00 price target on the stock. Cantor Fitzgerald’s price target indicates a potential downside of 0.47% from the stock’s previous close.

Several other equities analysts have also recently commented on NPCE. UBS Group started coverage on NeuroPace in a research note on Tuesday, January 21st. They set a “buy” rating and a $17.00 target price for the company. Wells Fargo & Company increased their target price on NeuroPace from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

NeuroPace Stock Performance

NeuroPace stock opened at $17.08 on Wednesday. NeuroPace has a 12-month low of $5.45 and a 12-month high of $17.73. The company has a market capitalization of $559.42 million, a price-to-earnings ratio of -17.08 and a beta of 2.04. 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’s fifty day moving average price is $11.83 and its 200 day moving average price is $11.48.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.05. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. The firm had revenue of $22.52 million for the quarter, compared to the consensus estimate of $21.85 million. On average, research analysts forecast that NeuroPace will post -1 EPS for the current fiscal year.

Insider Activity at NeuroPace

In related news, major shareholder Ltd. Kck sold 5,270,845 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Martha Morrell sold 78,334 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $13.72, for a total value of $1,074,742.48. Following the sale, the insider now directly owns 81,993 shares in the company, valued at approximately $1,124,943.96. This represents a 48.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 22.20% of the company’s stock.

Institutional Investors Weigh In On NeuroPace

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in NeuroPace by 440.4% in the fourth quarter. JPMorgan Chase & Co. now owns 64,826 shares of the company’s stock worth $725,000 after buying an additional 52,829 shares during the period. KCK LTD. acquired a new stake in NeuroPace in the fourth quarter worth $58,981,000. Barclays PLC increased its position in NeuroPace by 346.0% in the third quarter. Barclays PLC now owns 20,633 shares of the company’s stock worth $144,000 after buying an additional 16,007 shares during the period. Geode Capital Management LLC increased its position in NeuroPace by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 322,973 shares of the company’s stock worth $3,615,000 after buying an additional 5,781 shares during the period. Finally, Walleye Capital LLC acquired a new stake in NeuroPace in the fourth quarter worth $319,000. 78.83% of the stock is owned by institutional investors and hedge funds.

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.