NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Orbimed Advisors Llc Sells 14,069 Shares

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 14,069 shares of NeuroPace stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $14.01, for a total value of $197,106.69. Following the completion of the transaction, the insider now owns 3,504,898 shares in the company, valued at $49,103,620.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Orbimed Advisors Llc also recently made the following trade(s):

• On Thursday, April 18th, Orbimed Advisors Llc sold 2,623 shares of NeuroPace stock. The shares were sold at an average price of $14.06, for a total value of $36,879.38.
• On Thursday, April 11th, Orbimed Advisors Llc sold 461,899 shares of NeuroPace stock. The shares were sold at an average price of $14.49, for a total value of $6,692,916.51.

NeuroPace Price Performance

NPCE opened at $14.00 on Friday. The company has a debt-to-equity ratio of 2.76, a current ratio of 5.71 and a quick ratio of 5.02. The business has a 50 day simple moving average of $14.53 and a 200-day simple moving average of $11.36. NeuroPace, Inc. has a 12 month low of $3.80 and a 12 month high of $18.15.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.10. The firm had revenue of $18.01 million during the quarter, compared to analysts’ expectations of $17.74 million. NeuroPace had a negative return on equity of 153.76% and a negative net margin of 50.38%. On average, research analysts anticipate that NeuroPace, Inc. will post -1.14 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on NPCE. Cantor Fitzgerald lifted their target price on NeuroPace from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. SVB Leerink started coverage on NeuroPace in a research note on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 target price on the stock. Leerink Partnrs reissued an “outperform” rating on shares of NeuroPace in a report on Tuesday, January 30th. Wells Fargo & Company raised NeuroPace from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $16.00 to $20.00 in a report on Thursday, March 14th. Finally, Morgan Stanley raised their price target on NeuroPace from $9.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.67.

Hedge Funds Weigh In On NeuroPace

Several hedge funds and other institutional investors have recently bought and sold shares of NPCE. Citigroup Inc. acquired a new position in NeuroPace during the third quarter worth $29,000. Renaissance Technologies LLC acquired a new position in NeuroPace during the second quarter worth $63,000. Susquehanna International Group LLP acquired a new position in NeuroPace during the first quarter worth $65,000. Barclays PLC raised its holdings in NeuroPace by 9,085.6% during the third quarter. Barclays PLC now owns 10,839 shares of the company’s stock worth $105,000 after purchasing an additional 10,721 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in NeuroPace by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 71,515 shares of the company’s stock worth $106,000 after purchasing an additional 5,945 shares during the last quarter. 78.83% of the stock is owned by institutional investors and hedge funds.

NeuroPace Company Profile

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.