Two Sigma Investments LP Makes New Investment in NeuroPace, Inc. (NASDAQ:NPCE)

Two Sigma Investments LP bought a new position in NeuroPace, Inc. (NASDAQ:NPCE) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 26,146 shares of the company’s stock, valued at approximately $293,000. Two Sigma Investments LP owned approximately 0.09% of NeuroPace at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BNP Paribas Financial Markets acquired a new stake in NeuroPace in the fourth quarter valued at approximately $29,000. Wells Fargo & Company MN grew its position in NeuroPace by 54.2% during the fourth quarter. Wells Fargo & Company MN now owns 6,483 shares of the company’s stock valued at $73,000 after buying an additional 2,279 shares during the period. MetLife Investment Management LLC acquired a new stake in NeuroPace during the fourth quarter valued at $103,000. Birchview Capital LP acquired a new stake in shares of NeuroPace in the fourth quarter valued at about $112,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of NeuroPace in the fourth quarter valued at about $112,000. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NPCE. HC Wainwright assumed coverage on shares of NeuroPace in a report on Wednesday, May 28th. They issued a “buy” rating and a $18.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $17.00 price objective on shares of NeuroPace in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. raised their price objective on shares of NeuroPace from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.50.

NeuroPace Price Performance

NPCE opened at $12.94 on Wednesday. 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 52-week low of $5.45 and a 52-week high of $18.98. The company has a 50 day moving average of $12.90 and a two-hundred day moving average of $12.37. The company has a market cap of $424.42 million, a P/E ratio of -12.94 and a beta of 2.03.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, May 13th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.05. The business had revenue of $22.52 million during the quarter, compared to the consensus estimate of $21.85 million. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. On average, analysts expect that NeuroPace, Inc. will post -1 earnings per share for the current year.

Insider Buying and Selling

In other news, major shareholder Orbimed Advisors Llc sold 168,136 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $15.85, for a total transaction of $2,664,955.60. Following the completion of the transaction, the insider now owns 3,238,199 shares in the company, valued at approximately $51,325,454.15. This trade represents a 4.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 22.20% of the company’s stock.

About NeuroPace

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.