Bank of America Corp DE Sells 145,741 Shares of NeuroPace, Inc. $NPCE

Key Points

• Bank of America cut its NeuroPace stake by 85.5% in the first quarter, selling 145,741 shares and retaining 24,698 shares worth approximately $325,000.
• Other institutional investors increased their positions, and institutional ownership of NeuroPace stands at 78.83%.
• NeuroPace shares opened at $13.87 after a 4.3% decline. Although the company remains unprofitable, it exceeded quarterly earnings and revenue expectations, while analysts maintain a consensus “Moderate Buy” rating with a $19.29 price target.

Bank of America Corp DE reduced its stake in shares of NeuroPace, Inc. (NASDAQ:NPCE - Free Report) by 85.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 24,698 shares of the company's stock after selling 145,741 shares during the period. Bank of America Corp DE owned approximately 0.07% of NeuroPace worth $325,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. First Light Asset Management LLC raised its stake in shares of NeuroPace by 82.3% in the 1st quarter. First Light Asset Management LLC now owns 2,459,966 shares of the company's stock valued at $32,349,000 after purchasing an additional 1,110,484 shares during the period. Lazard Asset Management LLC grew its position in shares of NeuroPace by 9.8% in the 1st quarter. Lazard Asset Management LLC now owns 124,305 shares of the company's stock valued at $1,635,000 after acquiring an additional 11,078 shares during the period. Sei Investments Co. boosted its position in NeuroPace by 51.4% during the first quarter. Sei Investments Co. now owns 121,476 shares of the company's stock worth $1,597,000 after purchasing an additional 41,233 shares during the period. SG Americas Securities LLC grew its position in shares of NeuroPace by 52.9% in the first quarter. SG Americas Securities LLC now owns 11,640 shares of the company's stock valued at $153,000 after purchasing an additional 4,029 shares during the last quarter. Finally, Invesco Ltd. bought a new position in NeuroPace during the fourth quarter worth about $184,000. Institutional investors own 78.83% of the company's stock.

NeuroPace Trading Down 4.3%

NASDAQ:NPCE opened at $13.87 on Friday. The firm has a 50-day moving average price of $14.98 and a two-hundred day moving average price of $15.26. The firm has a market cap of $476.02 million, a price-to-earnings ratio of -24.33 and a beta of 1.94. NeuroPace, Inc. has a 52 week low of $9.22 and a 52 week high of $19.60. The company has a debt-to-equity ratio of 4.97, a quick ratio of 3.91 and a current ratio of 4.94.

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

Analyst Upgrades and Downgrades

NPCE has been the subject of several analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of NeuroPace in a research report on Monday, August 17th. Mizuho assumed coverage on NeuroPace in a research note on Thursday, July 23rd. They issued an "outperform" rating and a $22.00 price objective on the stock. Guggenheim reaffirmed a "neutral" rating on shares of NeuroPace in a research report on Wednesday, July 29th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NeuroPace in a research report on Wednesday, June 24th. Finally, HC Wainwright restated a "buy" rating and issued a $20.00 target price on shares of NeuroPace in a research note on Wednesday, July 29th. One 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 assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.29.

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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