NeuroPace (NASDAQ:NPCE) Hits New 52-Week High – What’s Next?

NeuroPace, Inc. (NASDAQ:NPCE) shares hit 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 changing hands. The stock had previously closed at $17.99.

Analyst Ratings Changes

Several research firms recently weighed in on NPCE. Wells Fargo & Company raised their price objective on NeuroPace from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $17.00 price target on shares of NeuroPace in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. boosted their price target on NeuroPace from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, May 14th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, NeuroPace has a consensus rating of “Moderate Buy” and an average target price of $15.00.

NeuroPace Trading Up 0.8%

The company has a market cap of $594.65 million, a P/E ratio of -18.13 and a beta of 2.04. The firm’s 50 day moving average is $12.40 and its two-hundred day moving average is $11.79. The company has a quick ratio of 4.77, a current ratio of 5.59 and a debt-to-equity ratio of 6.03.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.21) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.05. The firm had revenue of $22.52 million for the quarter, compared to analyst estimates 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, equities research analysts anticipate that NeuroPace, Inc. will post -1 EPS for the current year.

Insider Activity at NeuroPace

In other news, major shareholder Orbimed Advisors Llc sold 168,136 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $15.85, for a total transaction of $2,664,955.60. Following the transaction, the insider now owns 3,238,199 shares in the company, valued at approximately $51,325,454.15. This represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Martha Morrell sold 78,334 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now owns 81,993 shares of the company’s stock, 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. 22.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NPCE. Barclays PLC lifted its holdings in shares of NeuroPace by 346.0% in the 3rd quarter. Barclays PLC now owns 20,633 shares of the company’s stock worth $144,000 after purchasing an additional 16,007 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in NeuroPace by 106.3% during the third quarter. JPMorgan Chase & Co. now owns 11,997 shares of the company’s stock worth $84,000 after buying an additional 6,181 shares during the last quarter. Financial Advocates Investment Management lifted its stake in shares of NeuroPace by 27.8% in the fourth quarter. Financial Advocates Investment Management now owns 23,000 shares of the company’s stock valued at $257,000 after buying an additional 5,000 shares in the last quarter. Palumbo Wealth Management LLC acquired a new position in shares of NeuroPace during the fourth quarter valued at about $129,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of NeuroPace by 21.2% during the fourth quarter. Bank of New York Mellon Corp now owns 29,342 shares of the company’s stock valued at $328,000 after buying an additional 5,133 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

NeuroPace Company Profile

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.