State Street Corp Increases Stock Position in NeuroPace, Inc. (NASDAQ:NPCE)

State Street Corp increased its position in NeuroPace, Inc. (NASDAQ:NPCE) by 9.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 155,490 shares of the company’s stock after buying an additional 12,912 shares during the quarter. State Street Corp owned about 0.53% of NeuroPace worth $1,084,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers purchased a new position in shares of NeuroPace in the 2nd quarter worth about $111,000. Financial Advocates Investment Management increased its position in NeuroPace by 20.0% during the 3rd quarter. Financial Advocates Investment Management now owns 18,000 shares of the company’s stock worth $125,000 after purchasing an additional 3,000 shares in the last quarter. XTX Topco Ltd raised its holdings in NeuroPace by 56.1% in the second quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock valued at $182,000 after buying an additional 8,643 shares during the period. Bank of New York Mellon Corp acquired a new position in NeuroPace during the second quarter valued at approximately $257,000. Finally, Acadian Asset Management LLC grew its stake in NeuroPace by 46.0% during the second quarter. Acadian Asset Management LLC now owns 68,918 shares of the company’s stock worth $520,000 after buying an additional 21,703 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on NeuroPace from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. JPMorgan Chase & Co. increased their price objective on shares of NeuroPace from $9.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, NeuroPace currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.

NeuroPace Price Performance

Shares of NASDAQ NPCE opened at $11.58 on Friday. The company has a quick ratio of 4.77, a current ratio of 5.59 and a debt-to-equity ratio of 6.03. NeuroPace, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $18.15. The business has a 50 day moving average price of $9.58 and a two-hundred day moving average price of $7.97. The firm has a market cap of $345.64 million, a PE ratio of -11.58 and a beta of 2.05.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.07. The business had revenue of $21.06 million during the quarter, compared to the consensus estimate of $19.33 million. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. During the same quarter last year, the company earned ($0.28) earnings per share. Sell-side analysts expect that NeuroPace, Inc. will post -1 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Ltd. Kck sold 4,910 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $6.66, for a total value of $32,700.60. Following the completion of the sale, the insider now directly owns 5,540,104 shares in the company, valued at approximately $36,897,092.64. The trade was a 0.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 254,272 shares of company stock worth $1,414,789. 22.20% of the stock is currently owned by corporate insiders.

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.