Jacobs Levy Equity Management Inc. Acquires Shares of 57,096 NeuroPace, Inc. (NASDAQ:NPCE)

Jacobs Levy Equity Management Inc. acquired a new stake in NeuroPace, Inc. (NASDAQ:NPCE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 57,096 shares of the company’s stock, valued at approximately $639,000. Jacobs Levy Equity Management Inc. owned 0.19% of NeuroPace at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in NeuroPace in the fourth quarter valued at about $29,000. Wells Fargo & Company MN increased its position in shares of NeuroPace by 54.2% during the fourth quarter. Wells Fargo & Company MN now owns 6,483 shares of the company’s stock worth $73,000 after acquiring an additional 2,279 shares during the last quarter. MetLife Investment Management LLC purchased a new stake in shares of NeuroPace during the fourth quarter worth about $103,000. Cubist Systematic Strategies LLC purchased a new stake in shares of NeuroPace during the fourth quarter worth about $112,000. Finally, Birchview Capital LP purchased a new stake in shares of NeuroPace during the fourth quarter worth about $112,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

NeuroPace Stock Up 2.4%

NASDAQ:NPCE opened at $17.49 on Friday. The company has a market capitalization of $572.85 million, a price-to-earnings ratio of -17.49 and a beta of 2.04. NeuroPace, Inc. has a one year low of $5.45 and a one year high of $17.85. The stock has a 50-day simple moving average of $11.97 and a 200 day simple moving average of $11.59. The company has a debt-to-equity ratio of 6.03, a quick ratio of 4.77 and a current ratio of 5.59.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 205.41% and a negative net margin of 36.74%. Sell-side analysts predict that NeuroPace, Inc. will post -1 EPS for the current fiscal year.

Insider Buying and Selling at NeuroPace

In other NeuroPace news, major shareholder Orbimed Advisors Llc sold 168,136 shares of NeuroPace stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $15.85, for a total value of $2,664,955.60. Following the completion of the transaction, the insider now directly owns 3,238,199 shares in the company, valued at $51,325,454.15. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ltd. Kck sold 5,270,845 shares of NeuroPace stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $9.40, for a total value of $49,545,943.00. The disclosure for this sale can be found here. Insiders sold a total of 5,517,315 shares of company stock worth $53,285,641 over the last ninety days. Company insiders own 22.20% of the company’s stock.

Wall Street Analyst Weigh In

NPCE has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on NeuroPace from $14.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group initiated coverage on NeuroPace in a research report on Tuesday, January 21st. They set a “buy” rating and a $17.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $17.00 target price on shares of NeuroPace in a research report on Wednesday. Finally, Wells Fargo & Company lifted their target price on NeuroPace from $13.00 to $17.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

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.