NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Orbimed Advisors Llc Sells 24,609 Shares

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 24,609 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $14.05, for a total value of $345,756.45. Following the completion of the transaction, the insider now owns 3,459,113 shares of the company’s stock, valued at approximately $48,600,537.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions 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 Tuesday, April 16th, Orbimed Advisors Llc sold 14,069 shares of NeuroPace stock. The shares were sold at an average price of $14.01, for a total value of $197,106.69.
• On Thursday, April 11th, Orbimed Advisors Llc sold 461,899 shares of NeuroPace stock. The stock was sold at an average price of $14.49, for a total transaction of $6,692,916.51.

NeuroPace Stock Down 3.2 %

Shares of NPCE opened at $13.56 on Thursday. The firm has a market cap of $356.36 million, a P/E ratio of -10.59 and a beta of 2.08. NeuroPace, Inc. has a 12 month low of $3.80 and a 12 month high of $18.15. The stock’s 50 day moving average is $14.38 and its two-hundred day moving average is $11.54. The company has a current ratio of 5.71, a quick ratio of 5.02 and a debt-to-equity ratio of 2.76.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.10. The firm had revenue of $18.01 million for the quarter, compared to analysts’ expectations of $17.74 million. NeuroPace had a negative net margin of 50.38% and a negative return on equity of 153.76%. Analysts predict that NeuroPace, Inc. will post -1.14 earnings per share for the current fiscal year.

Institutional Trading of NeuroPace

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. acquired a new stake in NeuroPace in the 3rd quarter worth about $29,000. Barclays PLC increased its position in shares of 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 in the last quarter. EAM Investors LLC acquired a new position in NeuroPace in the 3rd quarter valued at $1,378,000. Finally, Kent Lake Capital LLC lifted its holdings in NeuroPace by 285.0% in the 3rd quarter. Kent Lake Capital LLC now owns 574,417 shares of the company’s stock valued at $5,589,000 after purchasing an additional 425,212 shares in the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analyst Ratings Changes

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

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.