NeuroPace, Inc. (NASDAQ:NPCE) Shares Purchased by Northern Trust Corp

Northern Trust Corp increased its stake in NeuroPace, Inc. (NASDAQ:NPCE - Free Report) by 15.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 184,847 shares of the company's stock after buying an additional 25,035 shares during the period. Northern Trust Corp owned about 0.62% of NeuroPace worth $2,068,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of NeuroPace by 106.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,997 shares of the company's stock valued at $84,000 after purchasing an additional 6,181 shares during the period. Financial Advocates Investment Management increased its stake in NeuroPace by 27.8% in the fourth quarter. Financial Advocates Investment Management now owns 23,000 shares of the company's stock valued at $257,000 after acquiring an additional 5,000 shares during the period. Palumbo Wealth Management LLC acquired a new position in NeuroPace during the fourth quarter worth $129,000. Bank of New York Mellon Corp increased its holdings in NeuroPace by 21.2% during the 4th quarter. Bank of New York Mellon Corp now owns 29,342 shares of the company's stock valued at $328,000 after purchasing an additional 5,133 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in NeuroPace by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 322,973 shares of the company's stock worth $3,615,000 after buying an additional 5,781 shares in the last quarter. Institutional investors and hedge funds own 78.83% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. HC Wainwright started coverage on shares of NeuroPace in a report on Wednesday. They issued a "buy" rating and a $18.00 target price on the stock. JPMorgan Chase & Co. upped their target price on NeuroPace from $14.00 to $16.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Cantor Fitzgerald restated an "overweight" rating and set a $17.00 price objective on shares of NeuroPace in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company lifted their price objective on shares of NeuroPace from $13.00 to $17.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.50.

NeuroPace Stock Performance

Shares of NPCE traded up $0.34 during mid-day trading on Thursday, hitting $12.80. The stock had a trading volume of 294,722 shares, compared to its average volume of 158,172. The firm has a market cap of $419.83 million, a P/E ratio of -12.84 and a beta of 2.04. The company has a debt-to-equity ratio of 6.03, a current ratio of 5.59 and a quick ratio of 4.77. The business has a fifty day moving average price of $12.80 and a 200-day moving average price of $12.08. NeuroPace, Inc. has a 52 week low of $5.45 and a 52 week high of $18.98.

NeuroPace (NASDAQ:NPCE - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported ($0.21) EPS for the quarter, topping analysts' consensus estimates of ($0.26) by $0.05. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. The business had revenue of $22.52 million during the quarter, compared to analysts' expectations of $21.85 million. On average, equities research analysts expect that NeuroPace, Inc. will post -1 EPS for the current year.

Insiders Place Their Bets

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