NeuroPace (NASDAQ:NPCE) Coverage Initiated at UBS Group

Equities research analysts at UBS Group initiated coverage on shares of NeuroPace (NASDAQ:NPCE) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $17.00 price target on the stock. UBS Group’s price target points to a potential upside of 42.02% from the stock’s current price.

NPCE has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price objective on shares of NeuroPace from $9.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company cut their price objective 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.33.

NeuroPace Stock Performance

NeuroPace stock opened at $11.97 on Tuesday. The company has a debt-to-equity ratio of 6.03, a current ratio of 5.59 and a quick ratio of 4.77. The company has a market cap of $357.30 million, a P/E ratio of -11.97 and a beta of 2.02. NeuroPace has a fifty-two week low of $5.45 and a fifty-two week high of $18.15. The firm’s 50 day simple moving average is $10.92 and its 200-day simple moving average is $8.44.

NeuroPace (NASDAQ:NPCE) last issued its 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 business had revenue of $21.06 million during the quarter, compared to analysts’ expectations 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 quarter last year, the firm posted ($0.28) earnings per share. As a group, equities research analysts predict that NeuroPace will post -1 EPS for the current year.

Insider Activity at NeuroPace

In related news, major shareholder Ltd. Kck sold 223,991 shares of the business’s 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 in the company, valued at approximately $28,726,105.25. The trade was a 4.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 22.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Advocates Investment Management grew its holdings 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 buying an additional 3,000 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of NeuroPace by 106.3% in the third quarter. JPMorgan Chase & Co. now owns 11,997 shares of the company’s stock worth $84,000 after acquiring an additional 6,181 shares during the last quarter. XTX Topco Ltd grew its stake in shares of NeuroPace by 56.1% in the second quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock worth $182,000 after acquiring an additional 8,643 shares during the last quarter. State Street Corp increased its position in NeuroPace by 9.1% during the third quarter. State Street Corp now owns 155,490 shares of the company’s stock worth $1,084,000 after acquiring an additional 12,912 shares during the period. Finally, Rhumbline Advisers bought a new stake in NeuroPace in the 2nd quarter valued at $111,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

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.