Lord Abbett & CO. LLC Purchases New Stake in NeuroPace, Inc. $NPCE

Key Points

• Lord Abbett & CO. LLC acquired 466,015 shares of NeuroPace, Inc. valued at approximately $5.7 million, representing about 1.42% ownership of the company.
• Institutional ownership of NeuroPace is high, with 78.83% of shares held by institutional investors, including significant stakes from Deutsche Bank AG and Geode Capital Management LLC.
• Analysts have a consensus "Buy" rating for NeuroPace, with a target price average of $16.60, and recent upgrades from firms such as JPMorgan Chase & Co.

Lord Abbett & CO. LLC bought a new position in shares of NeuroPace, Inc. (NASDAQ:NPCE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 466,015 shares of the company's stock, valued at approximately $5,727,000. Lord Abbett & CO. LLC owned about 1.42% of NeuroPace as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NPCE. Deutsche Bank AG raised its holdings in NeuroPace by 124.0% during the first quarter. Deutsche Bank AG now owns 924,274 shares of the company's stock worth $11,359,000 after purchasing an additional 511,662 shares in the last quarter. Geode Capital Management LLC grew its position in shares of NeuroPace by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 322,973 shares of the company's stock valued at $3,615,000 after buying an additional 5,781 shares during the last quarter. Northern Trust Corp raised its stake in NeuroPace by 15.7% during the 4th quarter. Northern Trust Corp now owns 184,847 shares of the company's stock worth $2,068,000 after acquiring an additional 25,035 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in NeuroPace in the first quarter valued at $1,701,000. Finally, Jane Street Group LLC purchased a new stake in NeuroPace in the fourth quarter valued at $1,120,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on NeuroPace from $14.00 to $16.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. HC Wainwright initiated coverage on NeuroPace in a research report on Wednesday, May 28th. They set a "buy" rating and a $18.00 price target on the stock. Cantor Fitzgerald reiterated an "overweight" rating and issued a $17.00 price objective on shares of NeuroPace in a research note on Wednesday, May 14th. Zacks Research lowered shares of NeuroPace from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, Wells Fargo & Company cut their target price on shares of NeuroPace from $17.00 to $15.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, NeuroPace presently has a consensus rating of "Moderate Buy" and an average target price of $16.60.

NeuroPace Stock Performance

Shares of NPCE stock traded down $0.08 during midday trading on Thursday, hitting $8.58. The company had a trading volume of 77,763 shares, compared to its average volume of 275,899. The stock has a market cap of $283.83 million, a price-to-earnings ratio of -10.21 and a beta of 1.89. The company has a debt-to-equity ratio of 3.02, a current ratio of 5.47 and a quick ratio of 4.51. The company's 50 day simple moving average is $9.66 and its 200 day simple moving average is $11.62. NeuroPace, Inc. has a 52-week low of $5.45 and a 52-week high of $18.98.

NeuroPace (NASDAQ:NPCE - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.02). NeuroPace had a negative return on equity of 168.61% and a negative net margin of 29.29%.The company had revenue of $23.52 million for the quarter, compared to analysts' expectations of $23.08 million. NeuroPace has set its FY 2025 guidance at EPS. Research analysts anticipate that NeuroPace, Inc. will post -1 earnings per share for the current fiscal year.

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.