Millennium Management LLC Sells 96,782 Shares of NeuroPace, Inc. (NASDAQ:NPCE)

Millennium Management LLC lowered its stake in shares of NeuroPace, Inc. (NASDAQ:NPCE - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 643,211 shares of the company's stock after selling 96,782 shares during the period. Millennium Management LLC owned 2.15% of NeuroPace worth $7,198,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of NPCE. Jacobs Levy Equity Management Inc. acquired a new position in NeuroPace during the 4th quarter valued at about $639,000. Cubist Systematic Strategies LLC purchased a new position in shares of NeuroPace during the fourth quarter worth $112,000. Bank of America Corp DE boosted its position in NeuroPace by 83.0% in the 4th quarter. Bank of America Corp DE now owns 24,448 shares of the company's stock worth $274,000 after purchasing an additional 11,088 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of NeuroPace during the 4th quarter valued at about $29,000. Finally, Jane Street Group LLC purchased a new position in NeuroPace in the 4th quarter valued at about $1,120,000. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NPCE shares. Wells Fargo & Company upped their price objective on NeuroPace from $13.00 to $17.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. HC Wainwright started coverage on NeuroPace in a report on Wednesday. They set a "buy" rating and a $18.00 price objective on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $17.00 price target on shares of NeuroPace in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. boosted their target price on NeuroPace from $14.00 to $16.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $15.50.

Insiders Place Their Bets

In other NeuroPace news, major shareholder Orbimed Advisors Llc sold 168,136 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $15.85, for a total value of $2,664,955.60. Following the sale, the insider now owns 3,238,199 shares of the company's stock, valued at $51,325,454.15. The trade was a 4.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 22.20% of the company's stock.

NeuroPace Price Performance

NeuroPace stock traded down $0.04 during trading hours on Friday, hitting $13.08. 152,147 shares of the company traded hands, compared to its average volume of 159,200. The firm's 50-day simple moving average is $12.82 and its two-hundred day simple moving average is $12.12. The company has a quick ratio of 4.77, a current ratio of 5.59 and a debt-to-equity ratio of 6.03. The firm has a market cap of $428.85 million, a P/E ratio of -12.98 and a beta of 2.04. NeuroPace, Inc. has a 1-year low of $5.45 and a 1-year high of $18.98.

NeuroPace (NASDAQ:NPCE - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.05. The company had revenue of $22.52 million during the quarter, compared to analysts' expectations of $21.85 million. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. As a group, analysts forecast that NeuroPace, Inc. will post -1 earnings per share for the current fiscal year.

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.