Palumbo Wealth Management LLC Grows Stake in NeuroPace, Inc. $NPCE

Key Points

• Palumbo Wealth Management LLC has increased its stake in NeuroPace, Inc. by 268.4% in the second quarter, now owning 169,890 shares valued at approximately $1.89 million.
• NeuroPace reported a loss of ($0.26) earnings per share for the recent quarter, slightly missing analyst estimates, despite generating revenue of $23.52 million.
• Analyst ratings for NeuroPace have varied, with Wells Fargo lowering its price target from $17.00 to $15.00, while HC Wainwright initiated coverage with a "buy" rating and an $18.00 price target.

Palumbo Wealth Management LLC increased its position in shares of NeuroPace, Inc. (NASDAQ:NPCE - Free Report) by 268.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 169,890 shares of the company's stock after purchasing an additional 123,779 shares during the quarter. Palumbo Wealth Management LLC owned 0.52% of NeuroPace worth $1,893,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of NPCE. BNP Paribas Financial Markets acquired a new stake in shares of NeuroPace during the 4th quarter worth about $29,000. Bank of America Corp DE lifted its stake in shares of NeuroPace by 83.0% during the fourth quarter. Bank of America Corp DE now owns 24,448 shares of the company's stock valued at $274,000 after buying an additional 11,088 shares during the period. Two Sigma Investments LP purchased a new position in shares of NeuroPace during the fourth quarter valued at approximately $293,000. Two Sigma Advisers LP acquired a new stake in NeuroPace during the fourth quarter worth approximately $117,000. Finally, GAMMA Investing LLC purchased a new stake in NeuroPace in the 1st quarter worth approximately $53,000. Institutional investors and hedge funds own 78.83% of the company's stock.

NeuroPace Stock Down 1.6%

NASDAQ NPCE opened at $10.22 on Thursday. The company has a quick ratio of 4.51, a current ratio of 5.47 and a debt-to-equity ratio of 3.02. NeuroPace, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $18.98. The business has a 50 day moving average price of $9.24 and a two-hundred day moving average price of $11.05. The stock has a market cap of $338.08 million, a PE ratio of -12.17 and a beta of 1.90.

NeuroPace (NASDAQ:NPCE - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate 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. As a group, sell-side analysts predict that NeuroPace, Inc. will post -1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NPCE has been the subject of a number of recent analyst reports. 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 note on Wednesday, August 13th. Finally, HC Wainwright began coverage on shares of NeuroPace in a research note on Wednesday, May 28th. They set a "buy" rating and a $18.00 price objective for the company. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.60.

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.

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