Renaissance Technologies LLC Sells 47,989 Shares of NeuroPace, Inc. $NPCE

Renaissance Technologies LLC lessened its holdings in NeuroPace, Inc. (NASDAQ:NPCE) by 21.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 174,311 shares of the company’s stock after selling 47,989 shares during the period. Renaissance Technologies LLC’s holdings in NeuroPace were worth $2,292,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NPCE. Vanguard Group Inc. raised its stake in NeuroPace by 4.9% during the third quarter. Vanguard Group Inc. now owns 1,435,850 shares of the company’s stock valued at $14,804,000 after purchasing an additional 66,574 shares in the last quarter. Armistice Capital LLC grew its stake in shares of NeuroPace by 12.6% in the 3rd 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 in the last quarter. Kotler Kevin bought a new stake in shares of NeuroPace in the 4th quarter worth about $9,750,000. Geode Capital Management LLC increased its holdings in shares of NeuroPace by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 596,248 shares of the company’s stock worth $9,208,000 after buying an additional 36,516 shares during the last quarter. Finally, State Street Corp raised its position in shares of NeuroPace by 9.8% during the 4th quarter. State Street Corp now owns 447,864 shares of the company’s stock valued at $6,915,000 after buying an additional 40,025 shares in the last quarter. Institutional investors own 78.83% of the company’s stock.

NeuroPace Price Performance

Shares of NPCE stock opened at $14.88 on Tuesday. The company has a market capitalization of $507.26 million, a P/E ratio of -22.89 and a beta of 1.92. The company’s 50-day simple moving average is $15.59 and its two-hundred day simple moving average is $15.42. NeuroPace, Inc. has a one year low of $7.56 and a one year 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.

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

Analysts Set New Price Targets

NPCE has been the subject of a number of analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $20.00 price target on shares of NeuroPace in a report on Wednesday, July 29th. Guggenheim restated a “neutral” rating on shares of NeuroPace in a research report on Wednesday, July 29th. Mizuho initiated coverage on NeuroPace in a research note on Thursday, July 23rd. They issued an “outperform” rating and a $22.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NeuroPace in a report on Wednesday, June 24th. Two investment 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 stock. According to data from MarketBeat, NeuroPace currently has a consensus rating of “Moderate Buy” and an average 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.