NeuroPace (NASDAQ:NPCE) Shares Gap Down – Here’s Why

Shares of NeuroPace, Inc. (NASDAQ:NPCE) gapped down prior to trading 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 trading hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NPCE. HC Wainwright reiterated a “buy” rating and set a $20.00 price objective on shares of NeuroPace in a research note on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research note on Wednesday, June 24th. Guggenheim reaffirmed a “neutral” rating on shares of NeuroPace in a report on Wednesday, July 29th. Finally, Mizuho started coverage on shares of NeuroPace in a research report on Thursday, July 23rd. They set an “outperform” rating and a $22.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

NeuroPace Stock Down 1.5%

The company has a market cap of $505.27 million, a P/E ratio of -22.80 and a beta of 1.92. The company has a debt-to-equity ratio of 4.08, a current ratio of 5.38 and a quick ratio of 4.35. The business’s 50 day moving average price is $15.56 and its 200-day moving average price is $15.41.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. NeuroPace had a negative return on equity of 108.20% and a negative net margin of 21.67%.The business had revenue of $22.83 million for the quarter, compared to analyst estimates of $22.61 million. On average, analysts anticipate that NeuroPace, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Legal & General Group Plc grew its holdings in NeuroPace by 86.0% during the 2nd quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock worth $30,000 after acquiring an additional 1,239 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of NeuroPace in the second quarter worth about $35,000. Quarry LP lifted its position 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 in the last quarter. SG Americas Securities LLC bought a new stake in shares of NeuroPace during the fourth quarter valued at approximately $118,000. Finally, New York State Common Retirement Fund grew its stake 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 purchasing an additional 6,800 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

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.