NeuroPace (NASDAQ:NPCE) Coverage Initiated by Analysts at UBS Group

UBS Group started coverage on shares of NeuroPace (NASDAQ:NPCE) in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $17.00 price target on the stock. UBS Group’s target price would indicate a potential upside of 21.08% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of NeuroPace from $9.00 to $14.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company dropped 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.33.

NeuroPace Stock Up 7.5 %

Shares of NPCE stock opened at $14.04 on Tuesday. The stock’s 50 day simple moving average is $11.13 and its 200 day simple moving average is $8.52. NeuroPace has a twelve month low of $5.45 and a twelve month high of $18.15. The company has a debt-to-equity ratio of 6.03, a quick ratio of 4.77 and a current ratio of 5.59. The company has a market capitalization of $419.09 million, a price-to-earnings ratio of -14.04 and a beta of 2.02.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.07. The company had revenue of $21.06 million for the quarter, compared to the consensus estimate of $19.33 million. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. During the same period in the previous year, the business posted ($0.28) EPS. As a group, research analysts predict that NeuroPace will post -1 EPS for the current year.

Insider Activity

In other news, major shareholder Ltd. Kck sold 223,991 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $5.45, for a total transaction of $1,220,750.95. Following the sale, the insider now owns 5,270,845 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. 22.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NPCE. Financial Advocates Investment Management increased its position in NeuroPace by 20.0% in the 3rd quarter. Financial Advocates Investment Management now owns 18,000 shares of the company’s stock valued at $125,000 after acquiring an additional 3,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of NeuroPace by 106.3% during the third quarter. JPMorgan Chase & Co. now owns 11,997 shares of the company’s stock worth $84,000 after purchasing an additional 6,181 shares in the last quarter. XTX Topco Ltd grew its stake in shares of NeuroPace by 56.1% during the second quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock valued at $182,000 after purchasing an additional 8,643 shares during the last quarter. State Street Corp increased its holdings in shares of NeuroPace by 9.1% in the third quarter. State Street Corp now owns 155,490 shares of the company’s stock valued at $1,084,000 after purchasing an additional 12,912 shares in the last quarter. Finally, Rhumbline Advisers bought a new position in NeuroPace in the 2nd quarter worth approximately $111,000. 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.