NeuroPace (NASDAQ:NPCE) Trading 4% Higher - Here's Why

NeuroPace, Inc. (NASDAQ:NPCE - Get Free Report) shot up 4% on Monday . The stock traded as high as $11.65 and last traded at $11.47. 79,703 shares were traded during mid-day trading, a decline of 17% from the average session volume of 95,657 shares. The stock had previously closed at $11.03.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NPCE. JPMorgan Chase & Co. raised their price objective on NeuroPace from $9.00 to $14.00 and gave the company an "overweight" rating in a research report on Tuesday. Wells Fargo & Company reduced their target price on NeuroPace from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $14.50.

NeuroPace Price Performance

The company has a quick ratio of 4.77, a current ratio of 5.59 and a debt-to-equity ratio of 6.03. The stock's 50-day simple moving average is $8.52 and its two-hundred day simple moving average is $7.63. The company has a market capitalization of $343.87 million, a price-to-earnings ratio of -11.52 and a beta of 2.05.

NeuroPace (NASDAQ:NPCE - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.07. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. The firm had revenue of $21.06 million during the quarter, compared to analysts' expectations of $19.33 million. During the same period last year, the business earned ($0.28) earnings per share. Equities research analysts predict that NeuroPace, Inc. will post -1 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Ltd. Kck sold 4,031 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $6.54, for a total transaction of $26,362.74. Following the transaction, the insider now directly owns 5,521,874 shares in the company, valued at approximately $36,113,055.96. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 257,590 shares of company stock valued at $1,437,916 over the last quarter. Company insiders own 22.20% of the company's stock.

Institutional Investors Weigh In On NeuroPace

Several hedge funds have recently modified their holdings of NPCE. Millennium Management LLC increased its position in NeuroPace by 13.3% in the second quarter. Millennium Management LLC now owns 686,037 shares of the company's stock worth $5,186,000 after buying an additional 80,324 shares during the period. Bank of New York Mellon Corp bought a new stake in NeuroPace in the 2nd quarter valued at about $257,000. Geode Capital Management LLC boosted its stake in NeuroPace by 8.7% during the 3rd quarter. Geode Capital Management LLC now owns 317,192 shares of the company's stock valued at $2,211,000 after purchasing an additional 25,330 shares during the period. Acadian Asset Management LLC grew its position in NeuroPace by 46.0% in the 2nd quarter. Acadian Asset Management LLC now owns 68,918 shares of the company's stock worth $520,000 after purchasing an additional 21,703 shares during the last quarter. Finally, Barclays PLC raised its holdings 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 buying an additional 16,007 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

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.