Nantahala Capital Management LLC Sells 249,979 Shares of NeuroPace, Inc. $NPCE

Key Points

• Nantahala Capital Management LLC has reduced its stake in NeuroPace, Inc. by 44.5%, now owning 312,094 shares valued at approximately $3.8 million.
• Research analysts have a consensus rating of "Moderate Buy" for NeuroPace, with an average price target of $16.60, reflecting mixed ratings from firms like Wells Fargo and JPMorgan.
• NeuroPace reported a loss of $0.26 earnings per share in its latest quarterly results, missing the consensus estimate by $0.02, with revenues slightly exceeding predictions at $23.52 million.

Nantahala Capital Management LLC lessened its holdings in NeuroPace, Inc. (NASDAQ:NPCE - Free Report) by 44.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 312,094 shares of the company's stock after selling 249,979 shares during the period. Nantahala Capital Management LLC owned approximately 0.95% of NeuroPace worth $3,836,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NPCE. BNP Paribas Financial Markets acquired a new stake in NeuroPace during the 4th quarter worth $29,000. GAMMA Investing LLC purchased a new stake in NeuroPace during the first quarter worth about $53,000. Wells Fargo & Company MN boosted its holdings in 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. MetLife Investment Management LLC purchased a new stake in shares of NeuroPace in the fourth quarter valued at about $103,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of NeuroPace during the fourth quarter valued at approximately $112,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of NeuroPace from $14.00 to $16.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Zacks Research downgraded shares of NeuroPace from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. HC Wainwright assumed coverage on shares of NeuroPace in a report 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 issued a $17.00 price objective on shares of NeuroPace in a research report on Wednesday, May 14th. Finally, Wells Fargo & Company lowered their target price on shares of NeuroPace from $17.00 to $15.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 13th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.60.

NeuroPace Price Performance

Shares of NASDAQ:NPCE traded up $0.12 on Friday, hitting $9.73. The stock had a trading volume of 208,056 shares, compared to its average volume of 204,502. NeuroPace, Inc. has a twelve month low of $5.45 and a twelve month high of $18.98. The company has a debt-to-equity ratio of 3.02, a quick ratio of 4.51 and a current ratio of 5.47. The firm's 50 day moving average price is $9.26 and its 200-day moving average price is $11.30. The company has a market capitalization of $321.87 million, a price-to-earnings ratio of -11.58 and a beta of 1.90.

NeuroPace (NASDAQ:NPCE - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.02). The business had revenue of $23.52 million for the quarter, compared to analyst estimates of $23.08 million. NeuroPace had a negative net margin of 29.29% and a negative return on equity of 168.61%. NeuroPace has set its FY 2025 guidance at EPS. On average, equities research analysts predict that NeuroPace, Inc. will post -1 earnings per share for the current 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.