NeuroPace (NASDAQ:NPCE) Given New $13.00 Price Target at Wells Fargo & Company

NeuroPace (NASDAQ:NPCE) had its target price reduced by Wells Fargo & Company from $15.00 to $13.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $18.00 target price on shares of NeuroPace in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.60.

NeuroPace Trading Up 28.2 %

NPCE opened at $9.15 on Wednesday. The stock has a market capitalization of $267.18 million, a P/E ratio of -9.15 and a beta of 1.79. The company has a current ratio of 6.37, a quick ratio of 5.47 and a debt-to-equity ratio of 5.97. NeuroPace has a 12 month low of $5.45 and a 12 month high of $18.15. The firm’s fifty day simple moving average is $6.84 and its 200 day simple moving average is $7.49.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. NeuroPace had a negative return on equity of 187.77% and a negative net margin of 36.74%. The business had revenue of $19.26 million during the quarter, compared to the consensus estimate of $18.30 million. During the same period last year, the company earned ($0.36) earnings per share. NeuroPace’s quarterly revenue was up 16.6% on a year-over-year basis. As a group, research analysts anticipate that NeuroPace will post -1.08 EPS for the current fiscal year.

Insider Buying and Selling at NeuroPace

In related news, major shareholder Ltd. Kck sold 4,031 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $6.54, for a total value of $26,362.74. Following the completion of the sale, the insider now directly owns 5,521,874 shares in the company, valued at approximately $36,113,055.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 257,590 shares of company stock worth $1,437,916 over the last quarter. 22.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NeuroPace

Hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers acquired a new stake in shares of NeuroPace during the 2nd quarter worth about $111,000. Financial Advocates Investment Management lifted its position in NeuroPace by 50.0% during the second quarter. Financial Advocates Investment Management now owns 15,000 shares of the company’s stock worth $113,000 after acquiring an additional 5,000 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of NeuroPace during the first quarter worth approximately $155,000. XTX Topco Ltd boosted its holdings in shares of NeuroPace by 56.1% during the second quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock worth $182,000 after acquiring an additional 8,643 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in shares of NeuroPace in the second quarter valued at approximately $257,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

About NeuroPace

NeuroPace, Inc operates as a medical device company in the United States. The company develops RNS system, a brain-responsive neuromodulation system that delivers personalized, real-time treatment at the seizure source for treating medically refractory focal epilepsy. It also records continuous brain activity data and enables clinicians to monitor patients in person and remotely.