Sei Investments Co. Increases Position in NeuroPace, Inc. $NPCE

Sei Investments Co. increased its holdings in NeuroPace, Inc. (NASDAQ:NPCE) by 51.4% during the 1st quarter, HoldingsChannel reports. The fund owned 121,476 shares of the company’s stock after acquiring an additional 41,233 shares during the quarter. Sei Investments Co.’s holdings in NeuroPace were worth $1,597,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Engineers Gate Manager LP purchased a new stake in NeuroPace during the 4th quarter worth approximately $188,000. EntryPoint Capital LLC acquired a new stake in shares of NeuroPace during the fourth quarter worth approximately $185,000. Invesco Ltd. bought a new stake in shares of NeuroPace in the fourth quarter worth $184,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NeuroPace by 60.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,160 shares of the company’s stock valued at $147,000 after acquiring an additional 4,972 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in NeuroPace by 755.6% in the fourth quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock valued at $119,000 after acquiring an additional 6,800 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

NeuroPace Stock Up 0.3%

Shares of NASDAQ:NPCE opened at $14.88 on Tuesday. The stock has a market capitalization of $507.26 million, a price-to-earnings ratio of -22.89 and a beta of 1.92. NeuroPace, Inc. has a 1-year low of $7.56 and a 1-year high of $19.60. The company’s fifty day moving average is $15.59 and its two-hundred day moving average is $15.42. The company has a debt-to-equity ratio of 4.08, a quick ratio of 4.35 and a current ratio of 5.38.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. NeuroPace had a negative net margin of 21.67% and a negative return on equity of 108.20%. The business had revenue of $22.00 million during the quarter, compared to analyst estimates of $21.65 million. Equities analysts anticipate that NeuroPace, Inc. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NPCE shares. Guggenheim reissued a “neutral” rating on shares of NeuroPace in a report on Wednesday, July 29th. Weiss Ratings restated a “sell (d-)” rating on shares of NeuroPace in a research note on Wednesday, June 24th. HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target on shares of NeuroPace in a research report on Wednesday, July 29th. Finally, Mizuho initiated coverage on shares of NeuroPace in a research report on Thursday, July 23rd. They set an “outperform” rating and a $22.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

About NeuroPace

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.