Armistice Capital LLC Cuts Stock Position in NeuroPace, Inc. $NPCE

Armistice Capital LLC decreased its position in shares of NeuroPace, Inc. (NASDAQ:NPCE) by 39.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 792,000 shares of the company’s stock after selling 506,000 shares during the period. Armistice Capital LLC owned 2.38% of NeuroPace worth $12,228,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of NPCE. Vanguard Group Inc. lifted its holdings in shares of NeuroPace by 4.9% during the 3rd 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 during the last quarter. Kotler Kevin acquired a new position in NeuroPace during the 4th quarter valued at about $9,750,000. Geode Capital Management LLC raised its stake in NeuroPace by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 596,248 shares of the company’s stock valued at $9,208,000 after buying an additional 36,516 shares during the last quarter. State Street Corp boosted its holdings in NeuroPace by 9.8% in the fourth quarter. State Street Corp now owns 447,864 shares of the company’s stock worth $6,915,000 after acquiring an additional 40,025 shares in the last quarter. Finally, Divisadero Street Capital Management LP grew its stake in shares of NeuroPace by 20.9% during the third quarter. Divisadero Street Capital Management LP now owns 292,792 shares of the company’s stock worth $3,019,000 after acquiring an additional 50,672 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

NeuroPace Stock Up 0.9%

NPCE stock opened at $15.16 on Thursday. The company has a market capitalization of $516.87 million, a P/E ratio of -23.32 and a beta of 1.88. NeuroPace, Inc. has a 12 month low of $7.56 and a 12 month high of $19.60. The firm’s fifty day simple moving average is $16.18 and its 200-day simple moving average is $15.62. 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 issued its earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. NeuroPace had a negative net margin of 21.67% and a negative return on equity of 108.20%. The firm had revenue of $22.00 million during the quarter, compared to analysts’ expectations of $21.65 million. As a group, equities research analysts forecast that NeuroPace, Inc. will post -0.54 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on NPCE. Cantor Fitzgerald upgraded shares of NeuroPace to a “strong-buy” rating in a research note on Wednesday, March 4th. HC Wainwright upped their price target on shares of NeuroPace from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Wells Fargo & Company raised shares of NeuroPace to a “strong-buy” rating in a report on Wednesday, March 18th. Wall Street Zen lowered shares of NeuroPace from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NeuroPace in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, NeuroPace has an average rating of “Moderate Buy” and an average price target of $18.83.

NeuroPace Company Profile

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.