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

NeuroPace (NASDAQ:NPCE) had its price target cut by equities research analysts at Wells Fargo & Company from $15.00 to $13.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 49.94% from the company’s previous close.

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

NeuroPace Stock Up 21.4 %

NeuroPace stock traded up $1.53 during mid-day trading on Wednesday, reaching $8.67. The company’s stock had a trading volume of 235,577 shares, compared to its average volume of 96,717. The business’s 50 day simple moving average is $6.80 and its 200 day simple moving average is $7.48. The company has a debt-to-equity ratio of 5.97, a quick ratio of 5.47 and a current ratio of 6.37. NeuroPace has a 12 month low of $5.45 and a 12 month high of $18.15. The company has a market capitalization of $253.16 million, a price-to-earnings ratio of -8.19 and a beta of 1.79.

NeuroPace (NASDAQ:NPCE) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $19.26 million during the quarter, compared to analysts’ expectations of $18.30 million. During the same quarter last year, the company earned ($0.36) EPS. NeuroPace’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, research analysts anticipate that NeuroPace will post -1.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Ltd. Kck sold 4,910 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $6.66, for a total value of $32,700.60. Following the transaction, the insider now directly owns 5,540,104 shares of the company’s stock, valued at $36,897,092.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 257,590 shares of company stock valued at $1,437,916 over the last 90 days. 22.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in NeuroPace by 18.3% in the 1st quarter. Vanguard Group Inc. now owns 488,618 shares of the company’s stock worth $6,450,000 after purchasing an additional 75,512 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in NeuroPace in the 1st quarter valued at approximately $155,000. Millennium Management LLC grew its stake in shares of NeuroPace by 13.3% during 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 last quarter. Acadian Asset Management LLC acquired a new position in shares of NeuroPace during the first quarter worth $621,000. Finally, Financial Advocates Investment Management lifted its stake in shares of NeuroPace by 50.0% in the 2nd quarter. Financial Advocates Investment Management now owns 15,000 shares of the company’s stock valued at $113,000 after acquiring an additional 5,000 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

NeuroPace Company Profile

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.