Two Sigma Investments LP Purchases New Position in NeuroPace, Inc. (NASDAQ:NPCE)

Two Sigma Investments LP bought a new position in NeuroPace, Inc. (NASDAQ:NPCE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 26,146 shares of the company's stock, valued at approximately $293,000. Two Sigma Investments LP owned about 0.09% of NeuroPace as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in NPCE. Northern Trust Corp boosted its holdings in shares of NeuroPace by 15.7% during the 4th quarter. Northern Trust Corp now owns 184,847 shares of the company's stock valued at $2,068,000 after buying an additional 25,035 shares in the last quarter. JPMorgan Chase & Co. raised its position in NeuroPace by 440.4% in 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 last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of NeuroPace during the 4th quarter valued at about $639,000. Point72 Asset Management L.P. purchased a new stake in shares of NeuroPace during the 4th quarter valued at about $369,000. Finally, Jane Street Group LLC purchased a new stake in shares of NeuroPace during the 4th quarter valued at about $1,120,000. 78.83% of the stock is currently owned by institutional investors.

Insider Activity at NeuroPace

In other NeuroPace news, major shareholder Orbimed Advisors Llc sold 168,136 shares of the firm's stock in a transaction dated 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Cantor Fitzgerald reiterated an "overweight" rating and set a $17.00 price objective on shares of NeuroPace in a research note on Wednesday, May 14th. HC Wainwright started coverage on NeuroPace in a report on Wednesday, May 28th. They set a "buy" rating and a $18.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price target on 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 issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.50.

NeuroPace Trading Down 1.4%

NPCE stock traded down $0.16 during midday trading on Friday, reaching $11.07. The company's stock had a trading volume of 503,404 shares, compared to its average volume of 169,574. The company has a debt-to-equity ratio of 6.03, a quick ratio of 4.77 and a current ratio of 5.59. The stock has a fifty day simple moving average of $12.87 and a two-hundred day simple moving average of $12.38. NeuroPace, Inc. has a 1 year low of $5.45 and a 1 year high of $18.98. The firm has a market capitalization of $363.08 million, a price-to-earnings ratio of -11.07 and a beta of 2.03.

NeuroPace (NASDAQ:NPCE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $21.85 million. On average, equities research analysts predict that NeuroPace, Inc. will post -1 EPS for the current year.

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.