NeuroPace, Inc. $NPCE Shares Sold by Armistice Capital LLC

Armistice Capital LLC lessened its stake in NeuroPace, Inc. (NASDAQ:NPCE) by 39.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 792,000 shares of the company’s stock after selling 506,000 shares during the period. Armistice Capital LLC’s holdings in NeuroPace were worth $12,228,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in NPCE. Kotler Kevin purchased a new position in shares of NeuroPace during the 4th quarter valued at approximately $9,750,000. Walleye Capital LLC boosted its holdings in NeuroPace by 344.6% during the fourth quarter. Walleye Capital LLC now owns 228,847 shares of the company’s stock worth $3,533,000 after buying an additional 177,375 shares in the last quarter. Geode Capital Management LLC boosted its holdings in NeuroPace by 44.6% during the second quarter. Geode Capital Management LLC now owns 485,162 shares of the company’s stock worth $5,406,000 after buying an additional 149,595 shares in the last quarter. Jane Street Group LLC acquired a new stake in NeuroPace during the fourth quarter valued at $1,815,000. Finally, Qube Research & Technologies Ltd grew its position in NeuroPace by 89.8% during the third quarter. Qube Research & Technologies Ltd now owns 213,773 shares of the company’s stock valued at $2,204,000 after buying an additional 101,136 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

NeuroPace Price Performance

NASDAQ:NPCE opened at $15.16 on Thursday. The stock has a 50 day moving average of $16.18 and a two-hundred day moving average of $15.62. NeuroPace, Inc. has a 12 month low of $7.56 and a 12 month high of $19.60. The firm has a market cap of $516.87 million, a P/E ratio of -23.32 and a beta of 1.88. The company has a current ratio of 5.38, a quick ratio of 4.35 and a debt-to-equity ratio of 4.08.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. The business had revenue of $22.00 million for the quarter, compared to the consensus estimate of $21.65 million. NeuroPace had a negative return on equity of 108.20% and a negative net margin of 21.67%. On average, analysts expect that NeuroPace, Inc. will post -0.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wall Street Zen downgraded shares of NeuroPace from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Cantor Fitzgerald upgraded NeuroPace to a “strong-buy” rating in a research report on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research note on Friday, March 27th. Wells Fargo & Company raised NeuroPace to a “strong-buy” rating in a report on Wednesday, March 18th. Finally, HC Wainwright increased their price target on NeuroPace from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, NeuroPace currently has an average rating of “Moderate Buy” and an average price target of $18.83.

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.