First Light Asset Management LLC Takes $19.47 Million Position in NeuroPace, Inc. $NPCE

Key Points

• First Light Asset Management LLC has acquired a new position in NeuroPace, purchasing approximately 1.58 million shares valued at around $19.47 million, making it the firm’s 17th largest holding.
• Several institutional investors have recently modified their stakes in NeuroPace, increasing overall institutional ownership to 78.83% of the company's stock.
• Analysts have mixed ratings for NeuroPace, with target prices ranging from $15.00 to $18.00, and an average rating of "Moderate Buy" based on several recent reports.

First Light Asset Management LLC purchased a new stake in NeuroPace, Inc. (NASDAQ:NPCE - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,584,048 shares of the company's stock, valued at approximately $19,468,000. NeuroPace comprises 2.2% of First Light Asset Management LLC's holdings, making the stock its 17th biggest holding. First Light Asset Management LLC owned about 4.84% of NeuroPace at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NPCE. Driehaus Capital Management LLC bought a new position in shares of NeuroPace in the first quarter valued at about $9,874,000. Armistice Capital LLC raised its holdings in shares of NeuroPace by 94.7% in the first quarter. Armistice Capital LLC now owns 1,153,614 shares of the company's stock valued at $14,178,000 after buying an additional 561,000 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of NeuroPace by 124.0% in the first quarter. Deutsche Bank AG now owns 924,274 shares of the company's stock valued at $11,359,000 after buying an additional 511,662 shares during the last quarter. Lord Abbett & CO. LLC bought a new position in shares of NeuroPace in the first quarter valued at about $5,727,000. Finally, Ghisallo Capital Management LLC bought a new position in shares of NeuroPace in the first quarter valued at about $2,458,000. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. HC Wainwright assumed coverage on NeuroPace in a report on Wednesday, May 28th. They issued a "buy" rating and a $18.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on NeuroPace from $14.00 to $16.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. 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. Zacks Research lowered NeuroPace from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $17.00 price objective on shares of NeuroPace in a research report on Wednesday, May 14th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $16.60.

NeuroPace Trading Up 1.2%

Shares of NeuroPace stock traded up $0.12 during trading on Friday, hitting $9.73. 208,056 shares of the company were exchanged, compared to its average volume of 204,502. The firm has a market capitalization of $321.87 million, a P/E ratio of -11.58 and a beta of 1.90. NeuroPace, Inc. has a 1-year low of $5.45 and a 1-year high of $18.98. The firm's fifty day moving average price is $9.26 and its 200 day moving average price is $11.30. The company has a debt-to-equity ratio of 3.02, a current ratio of 5.47 and a quick ratio of 4.51.

NeuroPace (NASDAQ:NPCE - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.26) earnings per share (EPS) 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 expect that NeuroPace, Inc. will post -1 earnings per share for the current fiscal 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.