Cubist Systematic Strategies LLC Invests $112,000 in NeuroPace, Inc. (NASDAQ:NPCE)

Cubist Systematic Strategies LLC purchased a new position in shares of NeuroPace, Inc. (NASDAQ:NPCE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,981 shares of the company’s stock, valued at approximately $112,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NPCE. BNP Paribas Financial Markets bought a new position in shares of NeuroPace during the fourth quarter worth $29,000. Wells Fargo & Company MN boosted 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 purchasing an additional 2,279 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of NeuroPace by 106.3% during the third quarter. JPMorgan Chase & Co. now owns 11,997 shares of the company’s stock worth $84,000 after purchasing an additional 6,181 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in shares of NeuroPace during the fourth quarter worth $103,000. Finally, Birchview Capital LP acquired a new stake in shares of NeuroPace during the fourth quarter worth $112,000. 78.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NPCE has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $17.00 price objective on shares of NeuroPace in a report on Wednesday, May 14th. Wells Fargo & Company raised their price objective on shares of NeuroPace from $13.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of NeuroPace from $14.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, May 14th. Finally, UBS Group initiated coverage on shares of NeuroPace in a report on Tuesday, January 21st. They set a “buy” rating and a $17.00 price objective on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

NeuroPace Stock Up 2.4%

Shares of NPCE stock opened at $17.49 on Monday. 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 1 year low of $5.45 and a 1 year high of $17.85. The firm’s fifty day moving average price is $11.97 and its two-hundred day moving average price is $11.63. The firm has a market capitalization of $572.85 million, a P/E ratio of -17.49 and a beta of 2.04.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings results on Tuesday, May 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.05. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. The firm had revenue of $22.52 million for the quarter, compared to analyst estimates of $21.85 million. On average, equities analysts predict that NeuroPace, Inc. will post -1 EPS for the current fiscal year.

Insider Buying and Selling at NeuroPace

In related news, major shareholder Ltd. Kck sold 5,270,845 shares of NeuroPace 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Martha Morrell sold 78,334 shares of NeuroPace stock in a transaction dated 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 $1,124,943.96. The trade was a 48.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,517,315 shares of company stock worth $53,285,641. Insiders own 22.20% of the company’s stock.

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.