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

Shares of NeuroPace, Inc. (NASDAQ:NPCE) gapped down prior to trading on Wednesday . The stock had previously closed at $15.80, but opened at $14.83. NeuroPace shares last traded at $14.8930, with a volume of 69,027 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NPCE shares. UBS Group restated a “buy” rating on shares of NeuroPace in a research note on Wednesday, January 14th. Wall Street Zen downgraded NeuroPace from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Wells Fargo & Company upgraded NeuroPace to a “strong-buy” rating in a report on Wednesday, March 18th. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a report on Friday, March 27th. Finally, Cantor Fitzgerald upgraded NeuroPace to a “strong-buy” rating in a report on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, NeuroPace currently has an average rating of “Moderate Buy” and an average target price of $18.67.

NeuroPace Stock Performance

The business has a fifty day simple moving average of $15.01 and a two-hundred day simple moving average of $15.00. The company has a debt-to-equity ratio of 3.09, a current ratio of 5.28 and a quick ratio of 4.33. The company has a market cap of $530.81 million, a PE ratio of -23.43 and a beta of 1.92.

NeuroPace (NASDAQ:NPCE) last posted its earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The company had revenue of $22.00 million during the quarter, compared to analyst estimates of $21.65 million. NeuroPace had a negative return on equity of 105.67% and a negative net margin of 21.47%. Research analysts anticipate that NeuroPace, Inc. will post -0.51 earnings per share for the current year.

Institutional Trading of NeuroPace

A number of hedge funds have recently bought and sold shares of NPCE. Geode Capital Management LLC lifted its holdings in NeuroPace by 44.6% during the second quarter. Geode Capital Management LLC now owns 485,162 shares of the company’s stock worth $5,406,000 after buying an additional 149,595 shares during the period. Legal & General Group Plc lifted its position in NeuroPace by 86.0% during the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock valued at $30,000 after acquiring an additional 1,239 shares during the last quarter. Rhumbline Advisers lifted its position in NeuroPace by 114.5% during the second quarter. Rhumbline Advisers now owns 36,956 shares of the company’s stock valued at $412,000 after acquiring an additional 19,729 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in NeuroPace by 59.1% in the second quarter. Russell Investments Group Ltd. now owns 71,463 shares of the company’s stock worth $796,000 after purchasing an additional 26,547 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in NeuroPace in the second quarter worth $35,000. Hedge funds and other 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.