Man Group plc Makes New $1.34 Million Investment in NeuroPace, Inc. $NPCE

Key Points

• Man Group plc acquired 84,073 NeuroPace shares worth approximately $1.34 million in the second quarter, representing about 0.24% of the company. Institutional investors collectively own 78.83% of NPCE.
• NeuroPace reported quarterly revenue of $22.83 million and an adjusted loss of $0.18 per share, beating analyst estimates of $22.61 million in revenue and a $0.22 loss.
• Analyst sentiment is moderately bullish, with a consensus “Moderate Buy” rating and an average price target of $19.29, compared with shares trading near $15.19.

Man Group plc acquired a new stake in NeuroPace, Inc. (NASDAQ:NPCE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 84,073 shares of the company's stock, valued at approximately $1,336,000. Man Group plc owned approximately 0.24% of NeuroPace at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Legal & General Group Plc grew its stake in shares of NeuroPace by 86.0% during the second quarter. Legal & General Group Plc now owns 2,679 shares of the company's stock valued at $30,000 after purchasing an additional 1,239 shares during the last quarter. Quarry LP raised its position in NeuroPace by 94.9% in the 3rd quarter. Quarry LP now owns 3,845 shares of the company's stock worth $40,000 after purchasing an additional 1,872 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in NeuroPace by 23.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,836 shares of the company's stock worth $230,000 after buying an additional 2,778 shares in the last quarter. Quantbot Technologies LP acquired a new position in NeuroPace during the 2nd quarter worth $35,000. Finally, Engineers Gate Manager LP boosted its position in NeuroPace by 33.6% in the 2nd quarter. Engineers Gate Manager LP now owns 13,609 shares of the company's stock valued at $152,000 after buying an additional 3,420 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

NeuroPace Stock Performance

Shares of NASDAQ:NPCE opened at $15.19 on Thursday. The firm's 50 day simple moving average is $15.17 and its 200 day simple moving average is $15.27. NeuroPace, Inc. has a fifty-two week low of $8.88 and a fifty-two week high of $19.60. The company has a market capitalization of $521.32 million, a price-to-earnings ratio of -26.65 and a beta of 1.94. The company has a debt-to-equity ratio of 4.97, a current ratio of 4.94 and a quick ratio of 3.91.

NeuroPace (NASDAQ:NPCE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.04. The firm had revenue of $22.83 million during the quarter, compared to analysts' expectations of $22.61 million. NeuroPace had a negative net margin of 19.34% and a negative return on equity of 105.64%. As a group, sell-side analysts forecast that NeuroPace, Inc. will post -0.67 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of NeuroPace in a research note on Wednesday, June 24th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of NeuroPace in a research note on Monday, August 17th. HC Wainwright reiterated a "buy" rating and issued a $20.00 price target on shares of NeuroPace in a report on Wednesday, July 29th. Mizuho assumed coverage on NeuroPace in a research report on Thursday, July 23rd. They issued an "outperform" rating and a $22.00 price objective for the company. Finally, Guggenheim reissued a "neutral" rating on shares of NeuroPace in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, NeuroPace presently has an average rating of "Moderate Buy" and an average target price of $19.29.

About NeuroPace

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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