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

Divisadero Street Capital Management LP raised its stake in shares of NeuroPace, Inc. (NASDAQ:NPCE) by 20.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 292,792 shares of the company’s stock after buying an additional 50,672 shares during the period. Divisadero Street Capital Management LP owned about 0.88% of NeuroPace worth $3,019,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Panagora Asset Management Inc. acquired a new position in NeuroPace during the second quarter worth $1,112,000. Essex Investment Management Co. LLC grew its stake in NeuroPace by 194.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 216,722 shares of the company’s stock valued at $2,234,000 after acquiring an additional 143,063 shares in the last quarter. Legato Capital Management LLC increased its holdings in shares of NeuroPace by 190.2% in the third quarter. Legato Capital Management LLC now owns 63,045 shares of the company’s stock valued at $650,000 after purchasing an additional 41,323 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in NeuroPace in the 2nd quarter valued at $173,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of NeuroPace in the 2nd quarter worth $661,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NPCE. Wall Street Zen cut NeuroPace from a “buy” rating to a “hold” rating in a research note on Sunday. HC Wainwright raised their price target on shares of NeuroPace from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, January 27th. Cantor Fitzgerald raised NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 4th. UBS Group reaffirmed a “buy” rating on shares of NeuroPace in a research report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of NeuroPace from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, NeuroPace presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.67.

NeuroPace Price Performance

NeuroPace stock opened at $14.09 on Monday. The firm has a fifty day moving average of $15.42 and a 200-day moving average of $13.57. The company has a quick ratio of 4.33, a current ratio of 5.28 and a debt-to-equity ratio of 3.09. NeuroPace, Inc. has a 52-week low of $7.56 and a 52-week high of $18.98. The firm has a market capitalization of $474.41 million, a P/E ratio of -21.35 and a beta of 1.86.

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

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.