NeuroPace (NASDAQ:NPCE) Reaches New 1-Year High – Here’s Why

NeuroPace, Inc. (NASDAQ:NPCE)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $18.98 and last traded at $18.13, with a volume of 545408 shares traded. The stock had previously closed at $17.99.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on NeuroPace from $14.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 14th. Cantor Fitzgerald restated an “overweight” rating and set a $17.00 price target on shares of NeuroPace in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company upped their price target on NeuroPace from $13.00 to $17.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

NeuroPace Stock Performance

The firm has a market capitalization of $579.89 million, a price-to-earnings ratio of -17.68 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 has a 50 day moving average price of $12.65 and a 200-day moving average price of $11.94.

NeuroPace (NASDAQ:NPCE) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.05. The business had revenue of $22.52 million for the quarter, compared to analysts’ expectations of $21.85 million. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. As a group, sell-side analysts expect that NeuroPace, Inc. will post -1 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Orbimed Advisors Llc sold 168,136 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $15.85, for a total value of $2,664,955.60. Following the transaction, the insider now owns 3,238,199 shares of the company’s stock, valued at $51,325,454.15. This represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 22.20% of the company’s stock.

Hedge Funds Weigh In On NeuroPace

Several large investors have recently bought and sold shares of the business. First Light Asset Management LLC purchased a new position in NeuroPace in the first quarter valued at $19,468,000. Armistice Capital LLC increased its holdings in NeuroPace by 94.7% in the first quarter. Armistice Capital LLC now owns 1,153,614 shares of the company’s stock valued at $14,178,000 after buying an additional 561,000 shares during the last quarter. Deutsche Bank AG increased its holdings in NeuroPace by 124.0% in the first quarter. Deutsche Bank AG now owns 924,274 shares of the company’s stock valued at $11,359,000 after buying an additional 511,662 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in NeuroPace in the first quarter valued at $9,874,000. Finally, Lord Abbett & CO. LLC purchased a new position in NeuroPace in the first quarter valued at $5,727,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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.