NeuroPace (NASDAQ:NPCE) Shares Up 1.1% – Time to Buy?

NeuroPace, Inc. (NASDAQ:NPCE)’s stock price traded up 1.1% during trading on Thursday . The company traded as high as $17.07 and last traded at $16.97. Approximately 90,776 shares were traded during mid-day trading, a decline of 48% from the average session volume of 175,229 shares. The stock had previously closed at $16.78.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. HC Wainwright increased their target price on NeuroPace from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Wells Fargo & Company upgraded NeuroPace to a “strong-buy” rating in a research note on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a research report on Wednesday, June 24th. Finally, Wall Street Zen downgraded shares of NeuroPace from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $18.83.

NeuroPace Trading Up 1.1%

The company has a market capitalization of $578.51 million, a price-to-earnings ratio of -26.11 and a beta of 1.88. The company has a quick ratio of 4.35, a current ratio of 5.38 and a debt-to-equity ratio of 4.08. The company’s 50 day simple moving average is $16.33 and its two-hundred day simple moving average is $15.62.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. NeuroPace had a negative net margin of 21.67% and a negative return on equity of 108.20%. The business had revenue of $22.00 million for the quarter, compared to analyst estimates of $21.65 million. As a group, research analysts anticipate that NeuroPace, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc raised its stake in NeuroPace by 86.0% in the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock valued at $30,000 after buying an additional 1,239 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of NeuroPace during the second quarter worth about $35,000. Quarry LP grew its stake 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 acquiring an additional 1,872 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of NeuroPace during the fourth quarter valued at about $118,000. Finally, New York State Common Retirement Fund increased its holdings in shares of NeuroPace by 755.6% during the fourth quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock valued at $119,000 after acquiring an additional 6,800 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

About NeuroPace

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.