Point72 Asset Management L.P. Takes Position in NeuroPace, Inc. (NASDAQ:NPCE)

Point72 Asset Management L.P. purchased a new stake in shares of NeuroPace, Inc. (NASDAQ:NPCE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 32,943 shares of the company's stock, valued at approximately $369,000. Point72 Asset Management L.P. owned approximately 0.11% of NeuroPace at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in shares of NeuroPace during the 4th quarter worth approximately $29,000. Wells Fargo & Company MN raised its position 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 worth $73,000 after acquiring an additional 2,279 shares in the last quarter. MetLife Investment Management LLC acquired a new position in NeuroPace during the 4th quarter valued at about $103,000. Cubist Systematic Strategies LLC acquired a new position in NeuroPace during the 4th quarter valued at about $112,000. Finally, Birchview Capital LP acquired a new position in NeuroPace during the 4th quarter valued at about $112,000. Hedge funds and other institutional investors own 78.83% of the company's stock.

NeuroPace Trading Down 28.4%

Shares of NPCE stock traded down $5.02 on Tuesday, hitting $12.66. The stock had a trading volume of 1,791,995 shares, compared to its average volume of 154,959. 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 firm has a market capitalization of $415.24 million, a P/E ratio of -12.66 and a beta of 2.04. NeuroPace, Inc. has a 1 year low of $5.45 and a 1 year high of $18.98. The company's 50 day moving average price is $12.77 and its 200-day moving average price is $12.07.

NeuroPace (NASDAQ:NPCE - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $21.85 million. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. Analysts anticipate that NeuroPace, Inc. will post -1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NPCE. Wells Fargo & Company raised their target price on NeuroPace from $13.00 to $17.00 and gave the stock an "overweight" rating in a report on Thursday, January 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $17.00 price objective on shares of NeuroPace in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. raised their target price on NeuroPace from $14.00 to $16.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $15.00.

Insider Buying and Selling at NeuroPace

In other news, major shareholder Orbimed Advisors Llc sold 168,136 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $15.85, for a total transaction of $2,664,955.60. Following the sale, the insider now owns 3,238,199 shares in the company, valued at $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 available through this link. 22.20% of the stock is owned by company insiders.

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.