NeuroPace (NASDAQ:NPCE) Hits New 12-Month High – What’s Next?

NeuroPace, Inc. (NASDAQ:NPCE) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $19.21 and last traded at $18.9240, with a volume of 118178 shares. The stock had previously closed at $18.12.

Analysts Set New Price Targets

Several research firms recently issued reports on NPCE. Wall Street Zen lowered shares of NeuroPace from a “buy” rating to a “hold” rating in a research note on Sunday, March 15th. UBS Group reissued a “buy” rating on shares of NeuroPace in a research report on Wednesday, January 14th. HC Wainwright increased their target price on shares of NeuroPace from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, January 27th. Wells Fargo & Company raised shares of NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 18th. Finally, Cantor Fitzgerald raised shares of NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 4th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, NeuroPace has an average rating of “Moderate Buy” and a consensus target price of $18.67.

NeuroPace Stock Down 4.9%

The stock has a market cap of $622.98 million, a P/E ratio of -27.80 and a beta of 1.92. The company has a current ratio of 5.28, a quick ratio of 4.33 and a debt-to-equity ratio of 3.09. The firm’s fifty day moving average is $14.90 and its 200 day moving average is $14.87.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, March 3rd. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.06. The firm had revenue of $26.59 million for the quarter, compared to the consensus estimate 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 research analysts forecast that NeuroPace, Inc. will post -0.51 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in NeuroPace by 52.9% in the 1st quarter. SG Americas Securities LLC now owns 11,640 shares of the company’s stock worth $153,000 after acquiring an additional 4,029 shares during the period. Invesco Ltd. bought a new position in NeuroPace in the 4th quarter worth $184,000. XTX Topco Ltd raised its position in shares of NeuroPace by 209.1% during the fourth quarter. XTX Topco Ltd now owns 33,975 shares of the company’s stock valued at $525,000 after buying an additional 22,983 shares during the last quarter. Tudor Investment Corp ET AL raised its position in shares of NeuroPace by 25.8% during the fourth quarter. Tudor Investment Corp ET AL now owns 193,346 shares of the company’s stock valued at $2,985,000 after buying an additional 39,648 shares during the last quarter. Finally, Numerai GP LLC acquired a new position in shares of NeuroPace during the fourth quarter valued at about $452,000. Institutional investors own 78.83% of the company’s stock.

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.