803,440 Shares in NeuroPace, Inc. $NPCE Acquired by Driehaus Capital Management LLC

Key Points

• Driehaus Capital Management LLC purchased 803,440 shares of NeuroPace, Inc. (NASDAQ:NPCE) for approximately $9.87 million, marking a 2.45% ownership stake as of the latest SEC filing.
• NeuroPace's stock opened at $9.15 with a 52-week range between $5.45 and $18.98, while the company reported a net loss of ($0.26) EPS, missing analyst expectations.
• Analysts maintain a consensus rating of "Moderate Buy" for NeuroPace with a average price target of $16.60, while several firms have set specific price objectives ranging from $15 to $18.

Driehaus Capital Management LLC acquired a new position in shares of NeuroPace, Inc. (NASDAQ:NPCE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 803,440 shares of the company's stock, valued at approximately $9,874,000. Driehaus Capital Management LLC owned approximately 2.45% of NeuroPace at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in NPCE. Deutsche Bank AG boosted its position in shares of NeuroPace by 124.0% during the 1st 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. Lord Abbett & CO. LLC purchased a new stake in shares of NeuroPace in the 1st quarter worth about $5,727,000. Essex Investment Management Co. LLC purchased a new stake in shares of NeuroPace in the 1st quarter worth about $1,701,000. Jane Street Group LLC purchased a new position in NeuroPace in the 4th quarter valued at about $1,120,000. Finally, Walleye Capital LLC lifted its holdings in NeuroPace by 311.7% in the 1st quarter. Walleye Capital LLC now owns 117,536 shares of the company's stock valued at $1,445,000 after purchasing an additional 88,989 shares in the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NPCE has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on NeuroPace from $17.00 to $15.00 and set an "overweight" rating for the company in a research report on Wednesday, August 13th. HC Wainwright started coverage on shares of NeuroPace in a report on Wednesday, May 28th. They set a "buy" rating and a $18.00 price objective on the stock. Zacks Research lowered shares of NeuroPace from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. JPMorgan Chase & Co. raised their price target on shares of NeuroPace from $14.00 to $16.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $17.00 price objective on shares of NeuroPace in a research report on Wednesday, May 14th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $16.60.

NeuroPace Stock Up 1.5%

NASDAQ NPCE traded up $0.15 during trading on Friday, hitting $9.76. The stock had a trading volume of 69,002 shares, compared to its average volume of 269,812. NeuroPace, Inc. has a 12 month low of $5.45 and a 12 month high of $18.98. The company has a market capitalization of $322.71 million, a PE ratio of -11.69 and a beta of 1.90. The company has a debt-to-equity ratio of 3.02, a quick ratio of 4.51 and a current ratio of 5.47. The company's 50-day moving average price is $9.28 and its two-hundred day moving average price is $11.32.

NeuroPace (NASDAQ:NPCE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.02). The company had revenue of $23.52 million for the quarter, compared to the consensus estimate 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 forecast that NeuroPace, Inc. will post -1 EPS for the current year.

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.