Acadian Asset Management LLC Has $520,000 Position in NeuroPace, Inc. (NASDAQ:NPCE)

Acadian Asset Management LLC lifted its stake in NeuroPace, Inc. (NASDAQ:NPCE) by 46.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 68,918 shares of the company’s stock after buying an additional 21,703 shares during the period. Acadian Asset Management LLC owned about 0.24% of NeuroPace worth $520,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new stake in shares of NeuroPace in the 1st quarter worth approximately $155,000. Rhumbline Advisers bought a new position in NeuroPace in the second quarter worth $111,000. Financial Advocates Investment Management lifted its position in NeuroPace by 50.0% in the second quarter. Financial Advocates Investment Management now owns 15,000 shares of the company’s stock worth $113,000 after purchasing an additional 5,000 shares during the period. Bank of New York Mellon Corp acquired a new stake in NeuroPace during the second quarter worth $257,000. Finally, Vanguard Group Inc. increased its holdings in NeuroPace by 18.3% in the 1st quarter. Vanguard Group Inc. now owns 488,618 shares of the company’s stock valued at $6,450,000 after buying an additional 75,512 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NPCE has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of NeuroPace from $20.00 to $15.00 and set an “overweight” rating for the company in a report on Wednesday, August 14th. Morgan Stanley cut their price target on shares of NeuroPace from $9.50 to $8.00 and set an “equal weight” rating for the company in a research note on Monday, July 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $18.00 price objective on shares of NeuroPace in a research note on Wednesday, August 14th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

NeuroPace Price Performance

NASDAQ:NPCE opened at $6.82 on Thursday. The company has a quick ratio of 5.47, a current ratio of 6.37 and a debt-to-equity ratio of 5.97. The firm has a market cap of $196.20 million, a PE ratio of -5.73 and a beta of 1.80. NeuroPace, Inc. has a 12 month low of $5.75 and a 12 month high of $18.15. The company’s 50-day moving average price is $7.41 and its two-hundred day moving average price is $9.43.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, August 13th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.03. NeuroPace had a negative return on equity of 195.26% and a negative net margin of 41.63%. The business had revenue of $19.26 million for the quarter, compared to the consensus estimate of $18.30 million. During the same period in the previous year, the business earned ($0.36) EPS. NeuroPace’s revenue was up 16.6% compared to the same quarter last year. On average, equities analysts anticipate that NeuroPace, Inc. will post -1.08 EPS for the current fiscal year.

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.