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 bought a new stake in NeuroPace, Inc. (NASDAQ:NPCE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 803,440 shares of the company's stock, valued at approximately $9,874,000. Driehaus Capital Management LLC owned 2.45% of NeuroPace as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the stock. Wells Fargo & Company MN increased its holdings in shares of NeuroPace by 54.2% during the fourth quarter. Wells Fargo & Company MN now owns 6,483 shares of the company's stock worth $73,000 after buying an additional 2,279 shares in the last quarter. Barclays PLC increased its holdings in shares of NeuroPace by 33.8% during the fourth quarter. Barclays PLC now owns 27,609 shares of the company's stock worth $309,000 after buying an additional 6,976 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in shares of NeuroPace during the fourth quarter worth approximately $103,000. Northern Trust Corp increased its holdings in shares of NeuroPace by 15.7% during the fourth quarter. Northern Trust Corp now owns 184,847 shares of the company's stock worth $2,068,000 after buying an additional 25,035 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of NeuroPace during the fourth quarter worth approximately $1,120,000. Institutional investors own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

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

NeuroPace Stock Performance

NASDAQ NPCE traded up $0.22 during trading on Wednesday, reaching $9.36. The company's stock had a trading volume of 258,142 shares, compared to its average volume of 271,337. The company has a current ratio of 5.47, a quick ratio of 4.51 and a debt-to-equity ratio of 3.02. The firm has a market capitalization of $309.63 million, a price-to-earnings ratio of -11.14 and a beta of 1.90. NeuroPace, Inc. has a 12 month low of $5.45 and a 12 month high of $18.98. The firm has a 50 day moving average price of $9.33 and a 200 day moving average price of $11.36.

NeuroPace (NASDAQ:NPCE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $23.52 million for the quarter, compared to the consensus estimate of $23.08 million. NeuroPace has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that NeuroPace, Inc. will post -1 EPS 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.