Nantahala Capital Management LLC Has $4.66 Million Position in NeuroPace, Inc. (NASDAQ:NPCE)

Nantahala Capital Management LLC lessened its holdings in shares of NeuroPace, Inc. (NASDAQ:NPCE) by 20.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 616,823 shares of the company’s stock after selling 161,437 shares during the period. Nantahala Capital Management LLC owned 2.14% of NeuroPace worth $4,663,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers acquired a new stake in shares of NeuroPace during the second quarter worth $111,000. Financial Advocates Investment Management raised its position in shares of NeuroPace by 50.0% in the 2nd quarter. Financial Advocates Investment Management now owns 15,000 shares of the company’s stock valued at $113,000 after acquiring an additional 5,000 shares during the period. Hillsdale Investment Management Inc. bought a new position in NeuroPace during the 1st quarter worth approximately $155,000. XTX Topco Ltd grew its holdings in NeuroPace by 56.1% during the second quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock valued at $182,000 after purchasing an additional 8,643 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in NeuroPace in the second quarter valued at approximately $257,000. Institutional investors own 78.83% of the company’s stock.

NeuroPace Trading Up 4.3 %

NASDAQ NPCE opened at $6.97 on Tuesday. NeuroPace, Inc. has a 52 week low of $5.75 and a 52 week high of $18.15. The company has a debt-to-equity ratio of 5.97, a quick ratio of 5.47 and a current ratio of 6.37. The stock’s 50 day moving average price is $7.31 and its two-hundred day moving average price is $9.01. The stock has a market capitalization of $200.51 million, a price-to-earnings ratio of -5.86 and a beta of 1.80.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, August 13th. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. NeuroPace had a negative net margin of 41.63% and a negative return on equity of 195.26%. The business had revenue of $19.26 million during the quarter, compared to the consensus estimate of $18.30 million. During the same quarter last year, the firm earned ($0.36) earnings per share. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. As a group, analysts anticipate that NeuroPace, Inc. will post -1.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NPCE shares. Wells Fargo & Company decreased their price target 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 lowered their price target on NeuroPace from $9.50 to $8.00 and set an “equal weight” rating for the company in a report on Monday, July 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $18.00 price objective on shares of NeuroPace in a report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.00.

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.