Palumbo Wealth Management LLC Has $567,000 Stock Holdings in NeuroPace, Inc. (NASDAQ:NPCE)

Palumbo Wealth Management LLC lifted its position in shares of NeuroPace, Inc. (NASDAQ:NPCE - Free Report) by 300.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,111 shares of the company's stock after acquiring an additional 34,594 shares during the quarter. Palumbo Wealth Management LLC owned approximately 0.14% of NeuroPace worth $567,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NPCE. Jane Street Group LLC acquired a new stake in shares of NeuroPace during the fourth quarter worth $1,120,000. Jacobs Levy Equity Management Inc. bought a new position in NeuroPace during the fourth quarter worth about $639,000. JPMorgan Chase & Co. grew its position in shares of NeuroPace by 440.4% during the 4th quarter. JPMorgan Chase & Co. now owns 64,826 shares of the company's stock worth $725,000 after buying an additional 52,829 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of NeuroPace during the 4th quarter worth about $369,000. Finally, Walleye Capital LLC bought a new stake in shares of NeuroPace in the 4th quarter valued at about $319,000. Institutional investors own 78.83% of the company's stock.

Insider Buying and Selling at NeuroPace

In related news, major shareholder Orbimed Advisors Llc sold 168,136 shares of the firm'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 completion of the transaction, the insider now owns 3,238,199 shares of the company's stock, valued at approximately $51,325,454.15. This trade represents a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 20.50% of the company's stock.

NeuroPace Stock Up 1.5%

Shares of NPCE traded up $0.16 on Monday, hitting $10.57. The company's stock had a trading volume of 503,959 shares, compared to its average volume of 173,286. The firm's fifty day moving average price is $12.83 and its 200-day moving average price is $12.39. NeuroPace, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $18.98. The company has a quick ratio of 5.70, a current ratio of 6.63 and a debt-to-equity ratio of 2.46. The firm has a market capitalization of $346.70 million, a price-to-earnings ratio of -12.58 and a beta of 2.03.

NeuroPace (NASDAQ:NPCE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.21) earnings per share for the quarter, beating analysts' consensus estimates of ($0.26) by $0.05. NeuroPace had a negative net margin of 29.42% and a negative return on equity of 190.84%. The firm had revenue of $22.52 million for the quarter, compared to analyst estimates of $21.85 million. On average, equities research analysts expect that NeuroPace, Inc. will post -1 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on NPCE shares. HC Wainwright started coverage on shares of NeuroPace in a research note on Wednesday, May 28th. They set a "buy" rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on shares of NeuroPace from $14.00 to $16.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $17.00 price target on shares of NeuroPace in a 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 company. According to MarketBeat.com, NeuroPace has a consensus rating of "Moderate Buy" and an average price target of $15.50.

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.