NeuroPace, Inc. $NPCE Shares Purchased by First Light Asset Management LLC

First Light Asset Management LLC boosted its stake in NeuroPace, Inc. (NASDAQ:NPCE) by 82.3% in the first quarter, Holdings Channel reports. The fund owned 2,459,966 shares of the company’s stock after buying an additional 1,110,484 shares during the quarter. NeuroPace makes up about 2.9% of First Light Asset Management LLC’s holdings, making the stock its 11th biggest holding. First Light Asset Management LLC owned approximately 0.07% of NeuroPace worth $32,349,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NPCE. Vanguard Group Inc. grew its position in NeuroPace by 4.9% in the third quarter. Vanguard Group Inc. now owns 1,435,850 shares of the company’s stock valued at $14,804,000 after acquiring an additional 66,574 shares in the last quarter. Armistice Capital LLC increased its stake in shares of NeuroPace by 12.6% in the third quarter. Armistice Capital LLC now owns 1,298,000 shares of the company’s stock worth $13,382,000 after buying an additional 145,665 shares during the last quarter. Kotler Kevin acquired a new stake in shares of NeuroPace in the 4th quarter valued at about $9,750,000. Geode Capital Management LLC raised its stake in NeuroPace by 6.5% during the fourth quarter. Geode Capital Management LLC now owns 596,248 shares of the company’s stock valued at $9,208,000 after buying an additional 36,516 shares in the last quarter. Finally, State Street Corp lifted its stake in NeuroPace by 9.8% during the fourth quarter. State Street Corp now owns 447,864 shares of the company’s stock worth $6,915,000 after purchasing an additional 40,025 shares during the last quarter. Institutional investors and hedge funds own 78.83% of the company’s stock.

NeuroPace Stock Performance

Shares of NPCE stock opened at $14.81 on Monday. NeuroPace, Inc. has a 12-month low of $7.56 and a 12-month high of $19.60. The company has a debt-to-equity ratio of 4.08, a current ratio of 5.38 and a quick ratio of 4.35. The firm has a market capitalization of $504.87 million, a price-to-earnings ratio of -22.78 and a beta of 1.88. The business has a 50 day simple moving average of $16.12 and a 200 day simple moving average of $15.62.

NeuroPace (NASDAQ:NPCE) last announced 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. NeuroPace had a negative return on equity of 108.20% and a negative net margin of 21.67%.The firm had revenue of $22.00 million for the quarter, compared to the consensus estimate of $21.65 million. On average, equities research analysts anticipate that NeuroPace, Inc. will post -0.54 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NPCE. HC Wainwright boosted their price objective on shares of NeuroPace from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a report on Wednesday, June 24th. Finally, Mizuho began coverage on NeuroPace in a research note on Thursday. They issued an “outperform” rating and a $22.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.