Man Group plc Makes New Investment in NeuroPace, Inc. $NPCE

Man Group plc purchased a new position in shares of NeuroPace, Inc. (NASDAQ:NPCE) during the second quarter, HoldingsChannel.com reports. The fund purchased 84,073 shares of the company’s stock, valued at approximately $1,336,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its stake in NeuroPace by 44.6% during the 2nd quarter. Geode Capital Management LLC now owns 485,162 shares of the company’s stock worth $5,406,000 after purchasing an additional 149,595 shares in the last quarter. Legal & General Group Plc lifted its stake in NeuroPace by 86.0% in the second quarter. Legal & General Group Plc now owns 2,679 shares of the company’s stock valued at $30,000 after buying an additional 1,239 shares in the last quarter. Rhumbline Advisers lifted its stake in NeuroPace by 114.5% in the second quarter. Rhumbline Advisers now owns 36,956 shares of the company’s stock valued at $412,000 after buying an additional 19,729 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of NeuroPace by 59.1% in the second quarter. Russell Investments Group Ltd. now owns 71,463 shares of the company’s stock valued at $796,000 after buying an additional 26,547 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of NeuroPace in the second quarter valued at approximately $35,000. 78.83% of the stock is currently owned by institutional investors and hedge funds.

NeuroPace Stock Up 3.1%

Shares of NPCE stock opened at $15.19 on Thursday. The firm’s fifty day moving average price is $15.17 and its two-hundred day moving average price is $15.27. The company has a current ratio of 4.94, a quick ratio of 3.91 and a debt-to-equity ratio of 4.97. NeuroPace, Inc. has a 1 year low of $8.88 and a 1 year high of $19.60. The firm has a market capitalization of $521.32 million, a P/E ratio of -26.65 and a beta of 1.94.

NeuroPace (NASDAQ:NPCE) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. The company had revenue of $22.83 million during the quarter, compared to the consensus estimate of $22.61 million. NeuroPace had a negative net margin of 19.34% and a negative return on equity of 105.64%. On average, equities analysts predict that NeuroPace, Inc. will post -0.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NPCE shares. HC Wainwright restated a “buy” rating and set a $20.00 price objective on shares of NeuroPace in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a research note on Wednesday, June 24th. Cantor Fitzgerald reiterated an “overweight” rating on shares of NeuroPace in a report on Monday, August 17th. Guggenheim reissued a “neutral” rating on shares of NeuroPace in a research note on Wednesday, July 29th. Finally, Mizuho assumed coverage on NeuroPace in a report on Thursday, July 23rd. They issued an “outperform” rating and a $22.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

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.