Point72 Asset Management L.P. Takes $369,000 Position in NeuroPace, Inc. (NASDAQ:NPCE)

Point72 Asset Management L.P. acquired a new stake in NeuroPace, Inc. (NASDAQ:NPCE - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 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.

Several other institutional investors and hedge funds have also made changes to their positions in NPCE. Jane Street Group LLC acquired a new stake in NeuroPace during the fourth quarter valued at approximately $1,120,000. Jacobs Levy Equity Management Inc. acquired a new stake in NeuroPace during the fourth quarter valued at approximately $639,000. JPMorgan Chase & Co. lifted 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. Walleye Capital LLC acquired a new stake in NeuroPace during the fourth quarter valued at approximately $319,000. Finally, Northern Trust Corp lifted its stake in NeuroPace by 15.7% during the fourth quarter. Northern Trust Corp now owns 184,847 shares of the company's stock valued at $2,068,000 after purchasing an additional 25,035 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NPCE shares. HC Wainwright started coverage on shares of NeuroPace in a research note on Wednesday. They set a "buy" rating and a $18.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating and issued a $17.00 price target on shares of NeuroPace in a research report on Wednesday, May 14th. JPMorgan Chase & Co. raised their price objective on shares of NeuroPace from $14.00 to $16.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Finally, Wells Fargo & Company lifted their price objective on shares of NeuroPace from $13.00 to $17.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.50.

NeuroPace Trading Up 0.9%

NASDAQ NPCE traded up $0.11 on Thursday, hitting $12.57. 153,676 shares of the stock were exchanged, compared to its average volume of 157,625. 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 6.03, a current ratio of 5.59 and a quick ratio of 4.77. The company has a market capitalization of $412.28 million, a price-to-earnings ratio of -12.54 and a beta of 2.04. The company's 50-day moving average price is $12.80 and its two-hundred day moving average price is $12.08.

NeuroPace (NASDAQ:NPCE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.21) earnings per share 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 net margin of 36.74% and a negative return on equity of 205.41%. Research analysts predict that NeuroPace, Inc. will post -1 EPS for the current year.

Insider Buying and Selling at NeuroPace

In other news, major shareholder Orbimed Advisors Llc sold 168,136 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $15.85, for a total transaction of $2,664,955.60. Following the transaction, the insider now owns 3,238,199 shares in the company, valued at $51,325,454.15. This represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 22.20% of the company's stock.

About NeuroPace

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.