Lord Abbett & CO. LLC Invests $5.73 Million 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 acquired a new stake in shares of NeuroPace, Inc. (NASDAQ:NPCE - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 466,015 shares of the company's stock, valued at approximately $5,727,000. Lord Abbett & CO. LLC owned about 1.42% of NeuroPace at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in shares of NeuroPace in the 4th quarter valued at $29,000. GAMMA Investing LLC acquired a new position in shares of NeuroPace in the 1st quarter valued at $53,000. Wells Fargo & Company MN increased its position in shares of NeuroPace by 54.2% in the 4th quarter. Wells Fargo & Company MN now owns 6,483 shares of the company's stock valued at $73,000 after acquiring an additional 2,279 shares during the period. MetLife Investment Management LLC acquired a new position in shares of NeuroPace in the 4th quarter valued at $103,000. Finally, Birchview Capital LP acquired a new position in shares of NeuroPace in the 4th quarter valued at $112,000. 78.83% of the stock is owned by institutional investors and hedge funds.

NeuroPace Stock Performance

NPCE traded up $0.4650 during midday trading on Friday, hitting $9.0850. 38,644 shares of the company were exchanged, compared to its average volume of 274,720. The company's 50 day simple moving average is $9.61 and its 200 day simple moving average is $11.58. The firm has a market capitalization of $300.53 million, a price-to-earnings ratio of -10.82 and a beta of 1.89. The company has a current ratio of 5.47, a quick ratio of 4.51 and a debt-to-equity ratio of 3.02. NeuroPace, Inc. has a 1-year low of $5.45 and a 1-year high of $18.98.

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

Analyst Ratings Changes

NPCE has been the topic of several research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $17.00 target price on shares of NeuroPace in a research report on Wednesday, May 14th. Zacks Research downgraded NeuroPace from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Wells Fargo & Company cut their target price on NeuroPace from $17.00 to $15.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 13th. JPMorgan Chase & Co. upped their target price on NeuroPace from $14.00 to $16.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Finally, HC Wainwright initiated coverage on NeuroPace in a research report on Wednesday, May 28th. They issued a "buy" rating and a $18.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, NeuroPace presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.60.

NeuroPace 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.