JPMorgan Chase & Co. Increases Holdings in NeuroPace, Inc. (NASDAQ:NPCE)

JPMorgan Chase & Co. grew its stake in NeuroPace, Inc. (NASDAQ:NPCE) by 106.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,997 shares of the company’s stock after acquiring an additional 6,181 shares during the period. JPMorgan Chase & Co.’s holdings in NeuroPace were worth $84,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Advocates Investment Management raised its holdings in shares of NeuroPace by 20.0% in the third quarter. Financial Advocates Investment Management now owns 18,000 shares of the company’s stock worth $125,000 after buying an additional 3,000 shares during the last quarter. State Street Corp raised its stake in NeuroPace by 9.1% during the third quarter. State Street Corp now owns 155,490 shares of the company’s stock worth $1,084,000 after purchasing an additional 12,912 shares during the period. Barclays PLC raised its stake in shares of NeuroPace by 346.0% in the 3rd quarter. Barclays PLC now owns 20,633 shares of the company’s stock valued at $144,000 after acquiring an additional 16,007 shares during the period. Geode Capital Management LLC raised its stake in shares of NeuroPace by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 317,192 shares of the company’s stock valued at $2,211,000 after acquiring an additional 25,330 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of NeuroPace by 13.3% in the second quarter. Millennium Management LLC now owns 686,037 shares of the company’s stock valued at $5,186,000 after purchasing an additional 80,324 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors.

NeuroPace Stock Performance

NASDAQ:NPCE opened at $13.61 on Tuesday. The company has a 50-day moving average of $11.89 and a 200-day moving average of $8.92. The company has a current ratio of 5.59, a quick ratio of 4.77 and a debt-to-equity ratio of 6.03. The firm has a market cap of $406.26 million, a price-to-earnings ratio of -13.61 and a beta of 2.05. NeuroPace, Inc. has a twelve month low of $5.45 and a twelve month high of $18.15.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.07. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. The firm had revenue of $21.06 million for the quarter, compared to analyst estimates of $19.33 million. During the same quarter last year, the firm earned ($0.28) earnings per share. Analysts forecast that NeuroPace, Inc. will post -1 earnings per share for the current fiscal year.

Insider Transactions at NeuroPace

In other NeuroPace news, insider Martha Morrell sold 3,200 shares of NeuroPace stock in a transaction on Friday, January 24th. The stock was sold at an average price of $15.01, for a total transaction of $48,032.00. Following the completion of the transaction, the insider now directly owns 87,062 shares of the company’s stock, valued at approximately $1,306,800.62. This trade represents a 3.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 22.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NPCE has been the subject of several research analyst reports. Wells Fargo & Company upped their target price on shares of NeuroPace from $13.00 to $17.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. UBS Group initiated coverage on shares of NeuroPace in a research note on Tuesday, January 21st. They set a “buy” rating and a $17.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of NeuroPace from $9.00 to $14.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, NeuroPace currently has a consensus rating of “Moderate Buy” and an average price target of $14.80.

NeuroPace Company Profile

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.