Walleye Capital LLC Takes Position in NeuroPace, Inc. (NASDAQ:NPCE)

Walleye Capital LLC acquired a new position in shares of NeuroPace, Inc. (NASDAQ:NPCE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 28,547 shares of the company's stock, valued at approximately $319,000. Walleye Capital LLC owned about 0.10% of NeuroPace as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its holdings 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 buying an additional 2,279 shares during the last quarter. JPMorgan Chase & Co. raised its stake in NeuroPace by 106.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,997 shares of the company's stock valued at $84,000 after purchasing an additional 6,181 shares during the last quarter. Palumbo Wealth Management LLC bought a new stake in NeuroPace in the 4th quarter valued at $129,000. Barclays PLC grew its position in NeuroPace by 346.0% in the 3rd quarter. Barclays PLC now owns 20,633 shares of the company's stock worth $144,000 after purchasing an additional 16,007 shares during the last quarter. Finally, Financial Advocates Investment Management increased its holdings in shares of NeuroPace by 27.8% during the 4th quarter. Financial Advocates Investment Management now owns 23,000 shares of the company's stock worth $257,000 after purchasing an additional 5,000 shares during the period. Institutional investors own 78.83% of the company's stock.

Analysts Set New Price Targets

NPCE has been the subject of several research reports. UBS Group initiated coverage on shares of NeuroPace in a research note on Tuesday, January 21st. They issued a "buy" rating and a $17.00 target price for the company. Cantor Fitzgerald raised their price objective on NeuroPace from $19.00 to $20.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company boosted their price objective on NeuroPace from $13.00 to $17.00 and gave the company 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $15.20.

Insider Buying and Selling at NeuroPace

In other NeuroPace news, major shareholder Ltd. Kck sold 5,270,845 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $9.40, for a total transaction of $49,545,943.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Martha Morrell sold 78,334 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $13.72, for a total transaction of $1,074,742.48. Following the sale, the insider now directly owns 81,993 shares of the company's stock, valued at approximately $1,124,943.96. The trade was a 48.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,349,279 shares of company stock valued at $50,622,185. 22.20% of the stock is currently owned by company insiders.

NeuroPace Price Performance

NASDAQ:NPCE traded up $0.47 during mid-day trading on Monday, hitting $11.62. The company's stock had a trading volume of 157,411 shares, compared to its average volume of 130,955. The company has a market capitalization of $380.59 million, a price-to-earnings ratio of -11.62 and a beta of 2.03. The company has a current ratio of 5.59, a quick ratio of 4.77 and a debt-to-equity ratio of 6.03. NeuroPace, Inc. has a fifty-two week low of $5.45 and a fifty-two week high of $15.11. The stock has a fifty day moving average of $11.76 and a 200-day moving average of $10.92.

NeuroPace (NASDAQ:NPCE - Get Free Report) last issued its earnings results on Tuesday, March 4th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.25) by $0.07. The business had revenue of $21.47 million during the quarter, compared to analysts' expectations of $21.14 million. NeuroPace had a negative return on equity of 205.41% and a negative net margin of 36.74%. As a group, equities analysts forecast that NeuroPace, Inc. will post -1 EPS for the current fiscal year.

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.