NeuroPace (NASDAQ:NPCE) Sees Large Volume Increase – What’s Next?

NeuroPace, Inc. (NASDAQ:NPCE) saw unusually-high trading volume on Tuesday . Approximately 381,518 shares traded hands during mid-day trading, an increase of 102% from the previous session’s volume of 188,499 shares.The stock last traded at $16.93 and had previously closed at $15.86.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NPCE shares. Wells Fargo & Company upped their price objective on NeuroPace from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Leerink Partners reissued an “outperform” rating and set a $19.00 target price on shares of NeuroPace in a research note on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a report on Monday, December 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $16.00 price target on shares of NeuroPace in a research report on Wednesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price objective on NeuroPace from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.50.

NeuroPace Price Performance

The stock has a fifty day simple moving average of $15.04 and a 200-day simple moving average of $11.62. The company has a market capitalization of $564.94 million, a PE ratio of -22.32 and a beta of 1.85. The company has a current ratio of 4.86, a quick ratio of 3.94 and a debt-to-equity ratio of 3.17.

NeuroPace (NASDAQ:NPCE) last issued its earnings results on Tuesday, November 4th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.09. The business had revenue of $27.35 million for the quarter, compared to analyst estimates of $24.64 million. NeuroPace had a negative return on equity of 136.60% and a negative net margin of 25.28%. Equities analysts anticipate that NeuroPace, Inc. will post -1 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in 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% during the third quarter. Armistice Capital LLC now owns 1,298,000 shares of the company’s stock worth $13,382,000 after purchasing an additional 145,665 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 149,595 shares during the last quarter. Divisadero Street Capital Management LP increased its position in shares of NeuroPace by 20.9% during the third quarter. Divisadero Street Capital Management LP now owns 292,792 shares of the company’s stock worth $3,019,000 after purchasing an additional 50,672 shares in the last quarter. Finally, Essex Investment Management Co. LLC lifted its holdings in shares of NeuroPace by 194.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 216,722 shares of the company’s stock valued at $2,234,000 after purchasing an additional 143,063 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

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.