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

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.

Wall Street Analyst Weigh In

NPCE has been the topic of several analyst reports. UBS Group reaffirmed a “buy” rating on shares of NeuroPace in a report on Wednesday, January 14th. Wells Fargo & Company raised shares of NeuroPace to a “strong-buy” rating in a report on Wednesday, March 18th. Wall Street Zen cut shares of NeuroPace from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Cantor Fitzgerald raised shares of NeuroPace to a “strong-buy” rating in a report on Wednesday, March 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.67.

NeuroPace Price Performance

The firm has a market capitalization of $530.81 million, a PE ratio of -23.43 and a beta of 1.92. The firm’s fifty day moving average price is $15.01 and its 200 day moving average price is $15.00. The company has a current ratio of 5.28, a quick ratio of 4.33 and a debt-to-equity ratio of 3.09.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Legal & General Group Plc raised its holdings in shares of NeuroPace by 86.0% during the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock worth $30,000 after purchasing an additional 1,239 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of NeuroPace during the second quarter worth $35,000. Quarry LP raised its holdings in shares of NeuroPace by 94.9% during the third quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after purchasing an additional 1,872 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of NeuroPace during the fourth quarter worth $118,000. Finally, New York State Common Retirement Fund boosted its holdings in NeuroPace by 755.6% during the fourth quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock worth $119,000 after buying an additional 6,800 shares in the last quarter. 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.