NeuroPace, Inc. $NPCE Shares Bought by Divisadero Street Capital Management LP

Divisadero Street Capital Management LP increased its position in NeuroPace, Inc. (NASDAQ:NPCE) by 20.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 292,792 shares of the company’s stock after acquiring an additional 50,672 shares during the period. Divisadero Street Capital Management LP’s holdings in NeuroPace were worth $3,019,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NPCE. Ameritas Investment Partners Inc. boosted its position in shares of NeuroPace by 83.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,455 shares of the company’s stock valued at $27,000 after purchasing an additional 1,118 shares during the period. Legal & General Group Plc grew its position in NeuroPace by 86.0% during the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock valued at $30,000 after purchasing an additional 1,239 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of NeuroPace in the second quarter worth $35,000. Police & Firemen s Retirement System of New Jersey increased its position in NeuroPace by 72.0% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,371 shares of the company’s stock worth $71,000 after purchasing an additional 2,668 shares during the last quarter. Finally, R Squared Ltd acquired a new position in NeuroPace in the third quarter worth approximately $133,000. 78.83% of the stock is currently owned by institutional investors.

NeuroPace Stock Performance

NeuroPace stock opened at $14.09 on Monday. The company’s 50-day moving average is $15.42 and its two-hundred day moving average is $13.57. NeuroPace, Inc. has a 1 year low of $7.56 and a 1 year high of $18.98. The company has a market cap of $474.41 million, a PE ratio of -21.35 and a beta of 1.86. The company has a current ratio of 5.28, a quick ratio of 4.33 and a debt-to-equity ratio of 3.09.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, March 3rd. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.06. NeuroPace had a negative net margin of 21.47% and a negative return on equity of 105.67%. The firm had revenue of $26.59 million during the quarter, compared to analyst estimates of $24.79 million. Equities analysts anticipate that NeuroPace, Inc. will post -1 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on NPCE. Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a research report on Monday, December 29th. Wall Street Zen lowered shares of NeuroPace from a “buy” rating to a “hold” rating in a research report on Sunday. Cantor Fitzgerald upgraded NeuroPace to a “strong-buy” rating in a research note on Wednesday, March 4th. UBS Group restated a “buy” rating on shares of NeuroPace in a research note on Wednesday, January 14th. Finally, HC Wainwright increased their target price on NeuroPace from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.67.

NeuroPace Company Profile

NeuroPace, Inc is a medical device company based in Mountain View, California, that develops innovative neuromodulation systems for the treatment of neurological disorders. Founded in the late 1990s out of research at Stanford University, the company’s mission centers on delivering closed-loop, “smart” therapies that monitor and respond to electrical activity in the brain. In 2020, NeuroPace completed its initial public offering and now trades on the NASDAQ under the ticker NPCE.

The company’s flagship product, the RNS® System, is an implantable device designed for adults with medically refractory focal epilepsy.