Essex Investment Management Co. LLC Acquires New Position in NeuroPace, Inc. (NASDAQ:NPCE)

Essex Investment Management Co. LLC acquired a new stake in shares of NeuroPace, Inc. (NASDAQ:NPCE - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 138,426 shares of the company's stock, valued at approximately $1,701,000. Essex Investment Management Co. LLC owned approximately 0.42% of NeuroPace as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NPCE. Geode Capital Management LLC grew its stake in NeuroPace by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 322,973 shares of the company's stock valued at $3,615,000 after acquiring an additional 5,781 shares in the last quarter. Northern Trust Corp grew its stake in NeuroPace by 15.7% during the 4th quarter. Northern Trust Corp now owns 184,847 shares of the company's stock valued at $2,068,000 after acquiring an additional 25,035 shares in the last quarter. Jane Street Group LLC purchased a new position in NeuroPace during the 4th quarter valued at about $1,120,000. JPMorgan Chase & Co. grew its stake in NeuroPace by 440.4% during the 4th quarter. JPMorgan Chase & Co. now owns 64,826 shares of the company's stock valued at $725,000 after acquiring an additional 52,829 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in NeuroPace during the 4th quarter valued at about $639,000. 78.83% of the stock is currently owned by institutional investors.

NeuroPace Stock Performance

Shares of NASDAQ NPCE traded up $0.48 during trading hours on Friday, reaching $8.99. The stock had a trading volume of 247,015 shares, compared to its average volume of 197,544. The business's fifty day moving average is $10.82 and its two-hundred day moving average is $12.03. NeuroPace, Inc. has a twelve month low of $5.45 and a twelve month high of $18.98. The company has a market cap of $294.87 million, a price-to-earnings ratio of -10.70 and a beta of 1.90. The company has a debt-to-equity ratio of 2.46, a current ratio of 6.63 and a quick ratio of 5.70.

NeuroPace (NASDAQ:NPCE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.21) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.05. The firm had revenue of $22.52 million for the quarter, compared to analysts' expectations of $21.85 million. NeuroPace had a negative return on equity of 190.84% and a negative net margin of 29.42%. As a group, research analysts expect that NeuroPace, Inc. will post -1 EPS for the current year.

Analysts Set New Price Targets

NPCE has been the subject of several recent research reports. HC Wainwright initiated coverage on NeuroPace in a research note on Wednesday, May 28th. They issued a "buy" rating and a $18.00 price target for the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $17.00 price target on shares of NeuroPace in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. upped their price target on NeuroPace from $14.00 to $16.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $17.00.

Insider Activity at NeuroPace

In other news, major shareholder Orbimed Advisors Llc sold 168,136 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $15.85, for a total transaction of $2,664,955.60. Following the sale, the insider owned 3,238,199 shares in the company, valued at approximately $51,325,454.15. This represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 20.50% of the company's stock.

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.