Insider Buying: NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Buys 327,893 Shares of Stock

NeuroPace, Inc. (NASDAQ:NPCEGet Rating) major shareholder Accelmed Partners Ii L.P. bought 327,893 shares of the firm’s stock in a transaction on Monday, November 21st. The stock was purchased at an average price of $1.50 per share, for a total transaction of $491,839.50. Following the completion of the acquisition, the insider now directly owns 4,370,550 shares in the company, valued at $6,555,825. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

NeuroPace Trading Up 3.3 %

Shares of NASDAQ:NPCE opened at $1.55 on Friday. The company’s 50 day moving average is $2.85 and its two-hundred day moving average is $4.49. NeuroPace, Inc. has a 52 week low of $1.38 and a 52 week high of $12.52. The company has a current ratio of 11.08, a quick ratio of 10.17 and a debt-to-equity ratio of 1.20. The company has a market cap of $38.60 million, a PE ratio of -0.81 and a beta of 1.10.

NeuroPace (NASDAQ:NPCEGet Rating) last released its earnings results on Tuesday, November 8th. The company reported ($0.48) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.04. The company had revenue of $11.16 million during the quarter, compared to analysts’ expectations of $10.32 million. NeuroPace had a negative net margin of 106.63% and a negative return on equity of 80.18%. Equities analysts predict that NeuroPace, Inc. will post -1.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NeuroPace

Several hedge funds have recently added to or reduced their stakes in NPCE. Financial Advocates Investment Management purchased a new position in NeuroPace during the 3rd quarter valued at about $38,000. Renaissance Technologies LLC purchased a new position in NeuroPace during the 2nd quarter valued at about $63,000. Citadel Advisors LLC purchased a new position in NeuroPace during the 2nd quarter valued at about $108,000. Opaleye Management Inc. purchased a new position in NeuroPace during the 2nd quarter valued at about $446,000. Finally, State Street Corp increased its holdings in NeuroPace by 2.1% during the 1st quarter. State Street Corp now owns 98,717 shares of the company’s stock valued at $810,000 after acquiring an additional 2,042 shares in the last quarter. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley decreased their target price on shares of NeuroPace from $5.50 to $3.50 and set an “underweight” rating on the stock in a report on Tuesday, October 11th.

About NeuroPace

(Get Rating)

NeuroPace, Inc operates as a medical device company in the United States. It develops and sells RNS system, a brain-responsive neuromodulation system for treating medically refractory focal epilepsy by delivering personalized real-time treatment at the seizure source. The company's RNS system also records continuous brain activity data; and enables clinicians to monitor patients in person and remotely.

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