NeuroPace (NASDAQ:NPCE) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of NeuroPace (NASDAQ:NPCE) from a buy rating to a hold rating in a report published on Sunday.

A number of other brokerages have also issued reports on NPCE. Cantor Fitzgerald upgraded shares of NeuroPace to a “strong-buy” rating in a research note on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a report on Monday, December 29th. JPMorgan Chase & Co. upped their target price on shares of NeuroPace from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. UBS Group reiterated a “buy” rating on shares of NeuroPace in a report on Wednesday, January 14th. Finally, HC Wainwright raised their price target on shares of NeuroPace from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, NeuroPace presently has an average rating of “Moderate Buy” and a consensus target price of $18.67.

NeuroPace Trading Down 2.6%

Shares of NASDAQ NPCE opened at $13.82 on Friday. 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 stock has a market capitalization of $465.32 million, a PE ratio of -20.94 and a beta of 1.86. NeuroPace has a twelve month low of $7.56 and a twelve month high of $18.98. The stock has a fifty day simple moving average of $15.34 and a 200-day simple moving average of $13.63.

NeuroPace (NASDAQ:NPCE) last posted its earnings results on Tuesday, March 3rd. The company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.06. NeuroPace had a negative return on equity of 105.67% and a negative net margin of 21.47%.The firm had revenue of $26.59 million for the quarter, compared to analyst estimates of $24.79 million. On average, equities analysts forecast that NeuroPace will post -1 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of NeuroPace by 4.9% during the 3rd quarter. Vanguard Group Inc. now owns 1,435,850 shares of the company’s stock worth $14,804,000 after acquiring an additional 66,574 shares in the last quarter. Armistice Capital LLC grew its holdings in shares of NeuroPace by 12.6% in the 3rd quarter. Armistice Capital LLC now owns 1,298,000 shares of the company’s stock worth $13,382,000 after acquiring an additional 145,665 shares during the period. Kotler Kevin purchased a new position in NeuroPace in the 4th quarter valued at approximately $9,750,000. Geode Capital Management LLC raised its holdings in NeuroPace by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 596,248 shares of the company’s stock worth $9,208,000 after purchasing an additional 36,516 shares during the last quarter. Finally, State Street Corp raised its holdings in NeuroPace by 9.8% during the fourth quarter. State Street Corp now owns 447,864 shares of the company’s stock worth $6,915,000 after purchasing an additional 40,025 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

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.