NeuroPace, Inc. (NASDAQ:NPCE) Stock Position Raised by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC increased its stake in 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 and Exchange Commission. The fund owned 46,111 shares of the company's stock after buying an additional 34,594 shares during the period. Palumbo Wealth Management LLC owned about 0.14% of NeuroPace worth $567,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research firms have recently commented on NPCE. 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 reaffirmed an "overweight" rating and issued a $17.00 target price on shares of NeuroPace in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of NeuroPace from $14.00 to $16.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, NeuroPace presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.50.

Insider Transactions at NeuroPace

In other news, major shareholder Orbimed Advisors Llc sold 168,136 shares of NeuroPace stock in a transaction that occurred 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 transaction, 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 document filed with the SEC, which is accessible through this link. Company insiders own 20.50% of the company's stock.

NeuroPace Stock Performance

Shares of NASDAQ NPCE traded up $0.37 during midday trading on Thursday, reaching $10.94. 222,147 shares of the company traded hands, compared to its average volume of 175,884. The company has a market cap of $358.83 million, a price-to-earnings ratio of -13.02 and a beta of 2.03. The stock has a 50-day moving average price of $12.84 and a 200 day moving average price of $12.36. NeuroPace, Inc. has a 52 week low of $5.45 and a 52 week high of $18.98. The company has a debt-to-equity ratio of 2.46, a current ratio of 6.63 and a quick ratio of 5.70.

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 firm had revenue of $22.52 million for the quarter, compared to analysts' expectations of $21.85 million. NeuroPace had a negative return on equity of 190.84% and a negative net margin of 29.42%. Sell-side analysts anticipate that NeuroPace, Inc. will post -1 earnings per share for the current fiscal 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.