2,477,603 Shares in NeuroPace, Inc. $NPCE Bought by BlackRock Inc.

Key Points

• BlackRock acquired 2.48 million NeuroPace shares worth approximately $39.4 million, giving it a 7.27% stake in the medical-device company. Institutional investors collectively own 78.83% of NPCE.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $19.29, compared with the stock’s reported price of $14.74.
• NeuroPace beat quarterly expectations, reporting an adjusted loss of $0.18 per share versus the $0.22 consensus estimate and revenue of $22.83 million. The company remains unprofitable, with a negative net margin of 19.34%.

BlackRock Inc. bought a new stake in NeuroPace, Inc. (NASDAQ:NPCE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,477,603 shares of the company's stock, valued at approximately $39,369,000. BlackRock Inc. owned about 7.27% of NeuroPace as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Legal & General Group Plc lifted its holdings in shares of NeuroPace by 86.0% in the second quarter. Legal & General Group Plc now owns 2,679 shares of the company's stock worth $30,000 after acquiring an additional 1,239 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of NeuroPace during the 2nd quarter valued at approximately $35,000. Quarry LP grew its holdings in shares of NeuroPace by 94.9% during the 3rd quarter. Quarry LP now owns 3,845 shares of the company's stock valued at $40,000 after purchasing an additional 1,872 shares during the last quarter. New York State Common Retirement Fund increased its position in NeuroPace by 755.6% during the 4th quarter. New York State Common Retirement Fund now owns 7,700 shares of the company's stock worth $119,000 after purchasing an additional 6,800 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NeuroPace by 60.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,160 shares of the company's stock worth $147,000 after purchasing an additional 4,972 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on NPCE shares. HC Wainwright restated a "buy" rating and issued a $20.00 target price on shares of NeuroPace in a research report on Wednesday, July 29th. Guggenheim reiterated a "neutral" rating on shares of NeuroPace in a report on Wednesday, July 29th. Mizuho began coverage on NeuroPace in a research note on Thursday, July 23rd. They issued an "outperform" rating and a $22.00 price target for the company. Cantor Fitzgerald reissued an "overweight" rating on shares of NeuroPace in a report on Monday, August 17th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of NeuroPace in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $19.29.

NeuroPace Price Performance

Shares of NASDAQ:NPCE opened at $14.74 on Wednesday. NeuroPace, Inc. has a twelve month low of $8.88 and a twelve month high of $19.60. The stock's 50 day moving average is $15.19 and its 200-day moving average is $15.26. The company has a quick ratio of 3.91, a current ratio of 4.94 and a debt-to-equity ratio of 4.97. The firm has a market capitalization of $505.88 million, a price-to-earnings ratio of -25.86 and a beta of 1.94.

NeuroPace (NASDAQ:NPCE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.04. The business had revenue of $22.83 million during the quarter, compared to the consensus estimate of $22.61 million. NeuroPace had a negative net margin of 19.34% and a negative return on equity of 105.64%. Sell-side analysts forecast that NeuroPace, Inc. will post -0.67 EPS for the current fiscal year.

NeuroPace Company Profile

NeuroPace, Inc is a medical device company based in Mountain View, California, that develops innovative neuromodulation systems for the treatment of neurological disorders. Founded in the late 1990s out of research at Stanford University, the company's mission centers on delivering closed-loop, “smart” therapies that monitor and respond to electrical activity in the brain. In 2020, NeuroPace completed its initial public offering and now trades on the NASDAQ under the ticker NPCE.

The company's flagship product, the RNS® System, is an implantable device designed for adults with medically refractory focal epilepsy.

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