NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Orbimed Advisors Llc Sells 4,674 Shares of Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 4,674 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $14.03, for a total value of $65,576.22. Following the completion of the sale, the insider now owns 3,406,335 shares of the company’s stock, valued at $47,790,880.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 Wednesday, May 1st, Orbimed Advisors Llc sold 15,690 shares of NeuroPace stock. The stock was sold at an average price of $14.02, for a total transaction of $219,973.80.
• On Wednesday, April 24th, Orbimed Advisors Llc sold 1,781 shares of NeuroPace stock. The stock was 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 value of $345,756.45.
• 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 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 shares were sold at an average price of $14.49, for a total transaction of $6,692,916.51.

NeuroPace Stock Performance

NPCE opened at $13.64 on Friday. NeuroPace, Inc. has a fifty-two week low of $3.80 and a fifty-two week high of $18.15. The firm has a market cap of $391.74 million, a PE ratio of -10.66 and a beta of 2.06. The company has a quick ratio of 5.02, a current ratio of 5.71 and a debt-to-equity ratio of 2.76. The business has a fifty day simple moving average of $13.98 and a 200-day simple moving average of $11.83.

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

Wall Street Analyst Weigh In

NPCE has been the topic of a number of analyst reports. SVB Leerink initiated coverage on 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 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 report on Thursday, March 14th. Morgan Stanley boosted their target price on shares of NeuroPace from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. Cantor Fitzgerald lifted their price objective on shares of NeuroPace from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Finally, Leerink Partnrs restated an “outperform” rating on shares of NeuroPace in a research note on Tuesday, January 30th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.67.

Hedge Funds Weigh In On NeuroPace

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its position in NeuroPace by 9,085.6% during the third quarter. Barclays PLC now owns 10,839 shares of the company’s stock valued at $105,000 after purchasing an additional 10,721 shares during the last quarter. EAM Investors LLC bought a new stake in shares of NeuroPace in the 3rd quarter valued at approximately $1,378,000. Kent Lake Capital LLC grew its position in NeuroPace by 285.0% in the third quarter. Kent Lake Capital LLC now owns 574,417 shares of the company’s stock worth $5,589,000 after acquiring an additional 425,212 shares in the last quarter. Finally, Citigroup Inc. acquired a new position in NeuroPace during the third quarter worth $29,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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.