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 dated Monday, April 22nd. The shares were 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 link. Large shareholders that own at least 10% of a company’s shares 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 transaction of $36,879.38.
• On Tuesday, April 16th, Orbimed Advisors Llc sold 14,069 shares of NeuroPace stock. The stock was sold at an average price of $14.01, for a total transaction 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 Performance

Shares of NASDAQ:NPCE opened at $12.99 on Friday. The company’s 50 day simple moving average is $14.31 and its 200 day simple moving average is $11.55. The stock has a market capitalization of $373.07 million, a price-to-earnings ratio of -10.15 and a beta of 2.08. The company has a debt-to-equity ratio of 2.76, a current ratio of 5.71 and a quick ratio of 5.02. NeuroPace, Inc. has a 1 year low of $3.80 and a 1 year high of $18.15.

NeuroPace (NASDAQ:NPCE) last announced its quarterly earnings data 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 business 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%. As a group, research analysts predict that NeuroPace, Inc. will post -1.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of NeuroPace

A number of hedge funds and other institutional investors have recently modified their holdings of NPCE. Kent Lake Capital LLC grew its stake in shares of NeuroPace by 285.0% during the third quarter. Kent Lake Capital LLC now owns 574,417 shares of the company’s stock worth $5,589,000 after buying an additional 425,212 shares during the last quarter. EAM Investors LLC bought a new stake in shares of NeuroPace during the third quarter worth $1,378,000. Barclays PLC grew its stake 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 buying an additional 10,721 shares during the last quarter. Finally, Citigroup Inc. bought a new stake in shares of NeuroPace during the third quarter worth $29,000. Institutional investors own 78.83% of the company’s stock.

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.