Millennium Management LLC Raises Holdings in NeuroPace, Inc. (NASDAQ:NPCE)

Millennium Management LLC grew its position in shares of NeuroPace, Inc. (NASDAQ:NPCE) by 13.3% during the second quarter, Holdings Channel reports. The institutional investor owned 686,037 shares of the company’s stock after purchasing an additional 80,324 shares during the quarter. Millennium Management LLC’s holdings in NeuroPace were worth $5,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in NPCE. Rhumbline Advisers purchased a new position in shares of NeuroPace during the 2nd quarter valued at $111,000. Financial Advocates Investment Management lifted its position in shares of NeuroPace by 50.0% during the 2nd quarter. Financial Advocates Investment Management now owns 15,000 shares of the company’s stock valued at $113,000 after buying an additional 5,000 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of NeuroPace during the 1st quarter valued at $155,000. XTX Topco Ltd lifted its position in shares of NeuroPace by 56.1% during the 2nd quarter. XTX Topco Ltd now owns 24,055 shares of the company’s stock valued at $182,000 after buying an additional 8,643 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of NeuroPace during the 2nd quarter valued at $257,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

NeuroPace Price Performance

Shares of NASDAQ NPCE opened at $6.61 on Friday. The firm has a market capitalization of $190.16 million, a P/E ratio of -5.55 and a beta of 1.78. The company has a quick ratio of 5.47, a current ratio of 6.37 and a debt-to-equity ratio of 5.97. The stock’s 50-day simple moving average is $7.11 and its two-hundred day simple moving average is $8.65. NeuroPace, Inc. has a twelve month low of $5.73 and a twelve month high of $18.15.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, August 13th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.03. The business had revenue of $19.26 million for the quarter, compared to analyst estimates of $18.30 million. NeuroPace had a negative return on equity of 195.26% and a negative net margin of 41.63%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.36) EPS. As a group, equities analysts anticipate that NeuroPace, Inc. will post -1.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on NPCE shares. Wells Fargo & Company decreased their price objective on NeuroPace from $20.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 14th. Morgan Stanley decreased their price objective on NeuroPace from $9.50 to $8.00 and set an “equal weight” rating on the stock in a research note on Monday, July 15th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $18.00 price objective on shares of NeuroPace in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, NeuroPace currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

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.