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

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

Separately, Cantor Fitzgerald reissued an “overweight” rating and set a $18.00 target price 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 company’s stock. Based on data from MarketBeat, NeuroPace presently has a consensus rating of “Moderate Buy” and an average price target of $14.60.

NeuroPace Stock Down 7.2 %

Shares of NPCE opened at $8.98 on Wednesday. The firm has a market capitalization of $262.19 million, a P/E ratio of -8.98 and a beta of 1.79. NeuroPace has a 12-month low of $5.45 and a 12-month high of $18.15. The company has a current ratio of 5.59, a quick ratio of 5.47 and a debt-to-equity ratio of 6.03. The firm has a fifty day moving average price of $6.93 and a 200-day moving average price of $7.44.

NeuroPace (NASDAQ:NPCE) last issued its earnings results on Tuesday, November 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.07. The firm had revenue of $21.06 million during the quarter, compared to analyst estimates of $19.33 million. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. During the same period in the previous year, the firm earned ($0.28) earnings per share. Equities research analysts expect that NeuroPace will post -1.08 earnings per share for the current year.

Insider Buying and Selling

In other NeuroPace news, major shareholder Ltd. Kck sold 223,991 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $5.45, for a total transaction 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 approximately $28,726,105.25. This represents a 4.08 % 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 sold a total of 257,590 shares of company stock valued at $1,437,916 over the last three months. 22.20% of the stock is owned by company insiders.

Institutional Trading of NeuroPace

Several hedge funds have recently modified their holdings of the company. Millennium Management LLC lifted its position in shares of NeuroPace by 13.3% during the second quarter. Millennium Management LLC now owns 686,037 shares of the company’s stock valued at $5,186,000 after buying an additional 80,324 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of NeuroPace by 18.3% during the first quarter. Vanguard Group Inc. now owns 488,618 shares of the company’s stock valued at $6,450,000 after buying an additional 75,512 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of NeuroPace by 8.7% during the third quarter. Geode Capital Management LLC now owns 317,192 shares of the company’s stock valued at $2,211,000 after acquiring an additional 25,330 shares in the last quarter. State Street Corp increased its holdings in shares of NeuroPace by 9.1% during the third quarter. State Street Corp now owns 155,490 shares of the company’s stock valued at $1,084,000 after acquiring an additional 12,912 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of NeuroPace by 46.0% during the second quarter. Acadian Asset Management LLC now owns 68,918 shares of the company’s stock valued at $520,000 after acquiring an additional 21,703 shares in the last quarter. 78.83% of the stock is 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.