Orbimed Advisors Llc Sells 15,690 Shares of NeuroPace, Inc. (NASDAQ:NPCE) Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 15,690 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $14.02, for a total transaction of $219,973.80. Following the completion of the transaction, the insider now directly owns 3,419,851 shares of the company’s stock, valued at $47,946,311.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large 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 Friday, May 3rd, Orbimed Advisors Llc sold 4,674 shares of NeuroPace stock. The stock was sold at an average price of $14.03, for a total transaction of $65,576.22.
• On Wednesday, April 24th, Orbimed Advisors Llc sold 1,781 shares of NeuroPace stock. The shares were sold at an average price of $14.06, for a total transaction of $25,040.86.
• On Monday, April 22nd, Orbimed Advisors Llc sold 24,609 shares of NeuroPace stock. The stock was sold at an average price of $14.05, for a total transaction of $345,756.45.
• On Thursday, April 18th, Orbimed Advisors Llc sold 2,623 shares of NeuroPace stock. The stock was sold at an average price of $14.06, for a total transaction 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 value of $6,692,916.51.

NeuroPace Stock Down 1.9 %

Shares of NASDAQ:NPCE opened at $13.64 on Monday. The firm has a market cap of $391.74 million, a P/E ratio of -10.66 and a beta of 2.06. NeuroPace, Inc. has a 12-month low of $3.80 and a 12-month high of $18.15. The business has a fifty day simple moving average of $13.98 and a 200 day simple moving average of $11.92. 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 (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 analysts’ consensus estimates of ($0.33) by $0.10. NeuroPace had a negative return on equity of 153.76% and a negative net margin of 50.38%. The company had revenue of $18.01 million during the quarter, compared to the consensus estimate of $17.74 million. Analysts predict that NeuroPace, Inc. will post -1.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NPCE. Citigroup Inc. acquired a new stake in shares of NeuroPace during the third quarter worth $29,000. Barclays PLC grew its holdings in NeuroPace by 9,085.6% during the 3rd quarter. Barclays PLC now owns 10,839 shares of the company’s stock worth $105,000 after acquiring an additional 10,721 shares during the period. EAM Investors LLC acquired a new stake in NeuroPace during the 3rd quarter worth about $1,378,000. Finally, Kent Lake Capital LLC lifted its stake in shares of 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 during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Leerink Partnrs reaffirmed an “outperform” rating on shares of NeuroPace in a report on Tuesday, January 30th. SVB Leerink began coverage on shares of NeuroPace in a research note on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 price target on the stock. Wells Fargo & Company upgraded shares of NeuroPace from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $16.00 to $20.00 in a research report on Thursday, March 14th. Morgan Stanley upped their price target 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. Finally, Cantor Fitzgerald raised their price objective on NeuroPace from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock 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.