NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Orbimed Advisors Llc Sells 2,623 Shares of Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 2,623 shares of NeuroPace stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $14.06, for a total value of $36,879.38. Following the transaction, the insider now directly owns 3,501,975 shares in the company, valued at $49,237,768.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% 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 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 shares were sold at an average price of $14.49, for a total value of $6,692,916.51.

NeuroPace Trading Up 1.8 %

NASDAQ:NPCE opened at $14.00 on Friday. The company has a quick ratio of 5.02, a current ratio of 5.71 and a debt-to-equity ratio of 2.76. NeuroPace, Inc. has a 1 year low of $3.80 and a 1 year high of $18.15. The stock’s 50 day simple moving average is $14.53 and its two-hundred day simple moving average is $11.36.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, March 5th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, analysts anticipate that NeuroPace, Inc. will post -1.14 earnings per share for the current year.

Hedge Funds Weigh In On NeuroPace

Institutional investors and hedge funds have recently modified their holdings of the stock. Kent Lake Capital LLC boosted its holdings in shares of NeuroPace by 16.8% in the 4th quarter. Kent Lake Capital LLC now owns 670,946 shares of the company’s stock worth $6,917,000 after purchasing an additional 96,529 shares during the period. Citigroup Inc. purchased a new position in NeuroPace during the 3rd quarter valued at $29,000. EAM Investors LLC purchased a new position in NeuroPace during the 3rd quarter valued at $1,378,000. Barclays PLC boosted its holdings in NeuroPace by 9,085.6% during the 3rd quarter. Barclays PLC now owns 10,839 shares of the company’s stock valued at $105,000 after acquiring an additional 10,721 shares during the period. Finally, BlackRock Inc. boosted its holdings in NeuroPace by 11.2% during the 2nd quarter. BlackRock Inc. now owns 36,117 shares of the company’s stock valued at $162,000 after acquiring an additional 3,646 shares during the period. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

NPCE has been the topic of a number of analyst reports. Leerink Partnrs reaffirmed an “outperform” rating on shares of NeuroPace in a research report on Tuesday, January 30th. SVB Leerink initiated coverage on NeuroPace in a research report on Tuesday, January 30th. They set an “outperform” rating and a $22.00 price objective on the stock. Cantor Fitzgerald lifted their price objective on NeuroPace from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Lake Street Capital reaffirmed a “buy” rating and set a $12.00 price objective on shares of NeuroPace in a research report on Wednesday, December 27th. Finally, Wells Fargo & Company raised 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 research note on Thursday, March 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.