Kent Lake Capital LLC Purchases 96,529 Shares of NeuroPace, Inc. (NASDAQ:NPCE)

Kent Lake Capital LLC boosted its position in NeuroPace, Inc. (NASDAQ:NPCE - Free Report) by 16.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 670,946 shares of the company's stock after purchasing an additional 96,529 shares during the period. NeuroPace comprises 2.7% of Kent Lake Capital LLC's holdings, making the stock its 17th largest position. Kent Lake Capital LLC owned about 2.55% of NeuroPace worth $6,917,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Balyasny Asset Management L.P. acquired a new stake in NeuroPace in the 4th quarter valued at about $280,000. Northern Trust Corp lifted its stake in NeuroPace by 57.7% in the 4th quarter. Northern Trust Corp now owns 35,022 shares of the company's stock valued at $361,000 after purchasing an additional 12,821 shares during the last quarter. Vanguard Group Inc. lifted its stake in NeuroPace by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 386,085 shares of the company's stock valued at $3,757,000 after purchasing an additional 7,898 shares during the last quarter. Citigroup Inc. acquired a new stake in NeuroPace in the 3rd quarter valued at about $29,000. Finally, Morgan Stanley lifted its stake in NeuroPace by 1.7% in the 3rd quarter. Morgan Stanley now owns 2,399,716 shares of the company's stock valued at $23,349,000 after purchasing an additional 40,850 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NPCE. SVB Leerink began coverage on shares of NeuroPace in a research report on Tuesday, January 30th. They set an "outperform" rating and a $22.00 price objective for the company. Lake Street Capital restated a "buy" rating and set a $12.00 price objective on shares of NeuroPace in a research report on Wednesday, December 27th. Cantor Fitzgerald raised their price objective on shares of NeuroPace from $16.00 to $18.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 6th. Wells Fargo & Company upgraded shares of NeuroPace from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $16.00 to $20.00 in a research report on Thursday, March 14th. Finally, Leerink Partnrs restated an "outperform" rating on shares of NeuroPace in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.67.

NeuroPace Price Performance

NeuroPace stock traded up $1.78 during mid-day trading on Friday, reaching $14.48. The company had a trading volume of 125,057 shares, compared to its average volume of 98,391. NeuroPace, Inc. has a fifty-two week low of $3.80 and a fifty-two week high of $18.15. The company has a current ratio of 5.71, a quick ratio of 5.02 and a debt-to-equity ratio of 2.76. The company has a market cap of $380.53 million, a P/E ratio of -11.31 and a beta of 2.08. The business has a fifty day simple moving average of $14.75 and a 200 day simple moving average of $11.00.

NeuroPace (NASDAQ:NPCE - Get Free Report) last issued its earnings results on Tuesday, March 5th. The company reported ($0.23) earnings per share for the quarter, beating analysts' consensus estimates of ($0.33) by $0.10. NeuroPace had a negative net margin of 50.38% and a negative return on equity of 153.76%. The firm had revenue of $18.01 million for the quarter, compared to analyst estimates of $17.74 million. On average, equities research analysts predict that NeuroPace, Inc. will post -1.14 earnings per share for the current year.

Insider Buying and Selling at NeuroPace

In other news, insider Martha Morrell sold 1,923 shares of NeuroPace stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $15.08, for a total transaction of $28,998.84. Following the transaction, the insider now owns 96,014 shares in the company, valued at $1,447,891.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 27.50% of the company's stock.

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.