Point72 Asset Management L.P. acquired a new position in shares of NeuroPace, Inc. (NASDAQ:NPCE - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 32,943 shares of the company's stock, valued at approximately $369,000. Point72 Asset Management L.P. owned about 0.11% of NeuroPace as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new stake in shares of NeuroPace in the 4th quarter valued at approximately $29,000. Wells Fargo & Company MN increased its holdings in shares of NeuroPace by 54.2% in the 4th quarter. Wells Fargo & Company MN now owns 6,483 shares of the company's stock valued at $73,000 after acquiring an additional 2,279 shares during the last quarter. MetLife Investment Management LLC bought a new stake in shares of NeuroPace in the 4th quarter valued at approximately $103,000. Cubist Systematic Strategies LLC bought a new stake in shares of NeuroPace in the 4th quarter valued at approximately $112,000. Finally, Birchview Capital LP bought a new stake in shares of NeuroPace in the 4th quarter valued at approximately $112,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at NeuroPace
In related news, major shareholder Orbimed Advisors Llc sold 168,136 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $15.85, for a total value of $2,664,955.60. Following the completion of the sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 22.20% of the company's stock.
NeuroPace Price Performance
NPCE stock traded down $0.43 during trading hours on Wednesday, hitting $12.23. 535,298 shares of the stock traded hands, compared to its average volume of 262,901. The stock has a 50-day simple moving average of $12.79 and a 200 day simple moving average of $12.08. NeuroPace, Inc. has a one year low of $5.45 and a one year high of $18.98. The company has a market cap of $401.26 million, a P/E ratio of -12.19 and a beta of 2.04. The company has a current ratio of 5.59, a quick ratio of 4.77 and a debt-to-equity ratio of 6.03.
NeuroPace (NASDAQ:NPCE - Get Free Report) last announced its earnings results on Tuesday, May 13th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.05. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. The business had revenue of $22.52 million during the quarter, compared to analysts' expectations of $21.85 million. Equities analysts forecast that NeuroPace, Inc. will post -1 earnings per share for the current year.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on NPCE. HC Wainwright began coverage on NeuroPace in a report on Wednesday. They issued a "buy" rating and a $18.00 price target for the company. Cantor Fitzgerald restated an "overweight" rating and issued a $17.00 target price on shares of NeuroPace in a research note on Wednesday, May 14th. Wells Fargo & Company upped their price objective on NeuroPace from $13.00 to $17.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. upped their price objective on NeuroPace from $14.00 to $16.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, NeuroPace currently has an average rating of "Moderate Buy" and an average price target of $15.50.
Get Our Latest Analysis on NeuroPace
About NeuroPace
(
Free Report)
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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