NeuroPace (NASDAQ:NPCE) Issues Earnings Results, Beats Estimates By $0.08 EPS

NeuroPace (NASDAQ:NPCE) issued its quarterly earnings data on Tuesday. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.08, FiscalAI reports. NeuroPace had a negative return on equity of 136.60% and a negative net margin of 25.28%.The company had revenue of $26.59 million during the quarter, compared to analyst estimates of $24.79 million.

NeuroPace Stock Down 2.3%

NeuroPace stock traded down $0.32 during trading on Tuesday, reaching $13.83. The stock had a trading volume of 257,611 shares, compared to its average volume of 205,800. NeuroPace has a 52-week low of $7.56 and a 52-week high of $18.98. The business has a 50 day moving average price of $15.73 and a 200 day moving average price of $13.22. The company has a quick ratio of 3.94, a current ratio of 4.86 and a debt-to-equity ratio of 3.17. The stock has a market cap of $460.65 million, a PE ratio of -18.20 and a beta of 1.85.

Hedge Funds Weigh In On NeuroPace

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings 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 buying an additional 66,574 shares during the last quarter. Armistice Capital LLC increased its stake in NeuroPace by 12.6% in the third quarter. Armistice Capital LLC now owns 1,298,000 shares of the company’s stock valued at $13,382,000 after purchasing an additional 145,665 shares during the last quarter. Kotler Kevin purchased a new position in NeuroPace in the fourth quarter valued at approximately $9,750,000. Geode Capital Management LLC lifted its position in shares of NeuroPace by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 596,248 shares of the company’s stock worth $9,208,000 after buying an additional 36,516 shares during the last quarter. Finally, State Street Corp lifted its position in shares of NeuroPace by 9.8% during the 4th quarter. State Street Corp now owns 447,864 shares of the company’s stock worth $6,915,000 after buying an additional 40,025 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on NPCE shares. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a report on Monday, December 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $16.00 target price on shares of NeuroPace in a research report on Wednesday, November 5th. Wells Fargo & Company upped their price target on NeuroPace from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. HC Wainwright lifted their price objective on NeuroPace from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, January 27th. Finally, JPMorgan Chase & Co. increased their target price on NeuroPace from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.67.

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.