Barclays PLC Acquires 16,007 Shares of NeuroPace, Inc. (NASDAQ:NPCE)

Barclays PLC raised its stake in shares of NeuroPace, Inc. (NASDAQ:NPCE) by 346.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,633 shares of the company’s stock after acquiring an additional 16,007 shares during the quarter. Barclays PLC’s holdings in NeuroPace were worth $144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Rhumbline Advisers purchased a new position in NeuroPace in the second quarter valued at about $111,000. Financial Advocates Investment Management boosted its holdings in shares of NeuroPace by 20.0% in the 3rd quarter. Financial Advocates Investment Management now owns 18,000 shares of the company’s stock valued at $125,000 after buying an additional 3,000 shares in the last quarter. XTX Topco Ltd grew its position in shares of NeuroPace by 56.1% in the 2nd quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock worth $182,000 after buying an additional 8,643 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of NeuroPace during the 2nd quarter worth approximately $257,000. Finally, State Street Corp lifted its position in NeuroPace by 9.1% during the third quarter. State Street Corp now owns 155,490 shares of the company’s stock valued at $1,084,000 after acquiring an additional 12,912 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on NPCE shares. UBS Group began coverage on NeuroPace in a research report on Tuesday. They set a “buy” rating and a $17.00 price target on the stock. JPMorgan Chase & Co. increased their price target on NeuroPace from $9.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Wells Fargo & Company dropped their price target on NeuroPace from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $15.33.

Insider Activity at NeuroPace

In other NeuroPace news, major shareholder Ltd. Kck sold 223,991 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $5.45, for a total transaction of $1,220,750.95. Following the completion of the transaction, the insider now owns 5,270,845 shares in the company, valued at $28,726,105.25. The trade was a 4.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 22.20% of the company’s stock.

NeuroPace Stock Up 7.5 %

Shares of NPCE opened at $14.04 on Thursday. NeuroPace, Inc. has a 52-week low of $5.45 and a 52-week high of $18.15. The company has a quick ratio of 4.77, a current ratio of 5.59 and a debt-to-equity ratio of 6.03. The stock has a fifty day simple moving average of $11.13 and a two-hundred day simple moving average of $8.52. The company has a market capitalization of $419.09 million, a PE ratio of -14.04 and a beta of 2.02.

NeuroPace (NASDAQ:NPCE) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.07. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. The business had revenue of $21.06 million for the quarter, compared to analyst estimates of $19.33 million. During the same quarter in the prior year, the company posted ($0.28) EPS. As a group, equities analysts forecast that NeuroPace, Inc. will post -1 EPS for the current year.

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.