Wells Fargo & Company Cuts NeuroPace (NASDAQ:NPCE) Price Target to $13.00

NeuroPace (NASDAQ:NPCE) had its price target trimmed by Wells Fargo & Company from $15.00 to $13.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Separately, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $18.00 price target on shares of NeuroPace in a research note 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, NeuroPace has an average rating of “Moderate Buy” and an average price target of $14.60.

NeuroPace Price Performance

Shares of NPCE opened at $8.98 on Wednesday. The firm has a market cap of $262.19 million, a PE ratio of -8.98 and a beta of 1.79. NeuroPace has a 52-week low of $5.45 and a 52-week high of $18.15. The business’s 50 day moving average price is $6.93 and its two-hundred day moving average price is $7.48. The company has a debt-to-equity ratio of 6.03, a quick ratio of 5.47 and a current ratio of 5.59.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, August 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. The company had revenue of $19.26 million for the quarter, compared to the consensus estimate of $18.30 million. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. NeuroPace’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.36) EPS. On average, equities analysts anticipate that NeuroPace will post -1.08 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Ltd. Kck sold 223,991 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $5.45, for a total value of $1,220,750.95. Following the completion of the sale, the insider now directly owns 5,270,845 shares of the company’s stock, valued at $28,726,105.25. This represents a 4.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 257,590 shares of company stock worth $1,437,916 in the last quarter. Insiders own 22.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Rhumbline Advisers bought a new position in NeuroPace during the 2nd quarter valued at $111,000. Financial Advocates Investment Management raised its holdings in shares of NeuroPace by 50.0% in the second quarter. Financial Advocates Investment Management now owns 15,000 shares of the company’s stock valued at $113,000 after purchasing an additional 5,000 shares during the last quarter. Barclays PLC lifted its position in shares of NeuroPace by 346.0% during the third quarter. Barclays PLC now owns 20,633 shares of the company’s stock valued at $144,000 after purchasing an additional 16,007 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in NeuroPace during the first quarter worth about $155,000. Finally, XTX Topco Ltd grew its position in NeuroPace by 56.1% in the 2nd quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock worth $182,000 after purchasing an additional 8,643 shares in the last quarter. Hedge funds and other institutional investors 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.