Polar Capital Holdings Plc Decreases Stock Holdings in NeuroPace, Inc. $NPCE

Polar Capital Holdings Plc trimmed its position in shares of NeuroPace, Inc. (NASDAQ:NPCE) by 7.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,878,523 shares of the company’s stock after selling 219,345 shares during the period. Polar Capital Holdings Plc owned approximately 0.09% of NeuroPace worth $44,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Legal & General Group Plc raised its holdings in shares of NeuroPace by 86.0% during the 2nd quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock worth $30,000 after acquiring an additional 1,239 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of NeuroPace during the 2nd quarter worth approximately $35,000. Quarry LP raised its holdings in shares of NeuroPace by 94.9% during the 3rd quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after acquiring an additional 1,872 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of NeuroPace during the 4th quarter worth approximately $118,000. Finally, New York State Common Retirement Fund raised its holdings in shares of NeuroPace by 755.6% during the 4th quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock worth $119,000 after acquiring an additional 6,800 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

NeuroPace Stock Performance

NASDAQ:NPCE opened at $15.02 on Wednesday. The stock’s fifty day moving average is $16.17 and its 200 day moving average is $15.63. NeuroPace, Inc. has a fifty-two week low of $7.56 and a fifty-two week high of $19.60. The firm has a market capitalization of $512.03 million, a PE ratio of -23.11 and a beta of 1.88. 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 released its quarterly 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 company had revenue of $22.00 million for the quarter, compared to analyst estimates of $21.65 million. On average, sell-side analysts anticipate that NeuroPace, Inc. will post -0.54 earnings per share for the current year.

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.