NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Orbimed Advisors Llc Sells 1,781 Shares

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 1,781 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $14.06, for a total value of $25,040.86. Following the completion of the sale, the insider now owns 3,435,541 shares of the company’s stock, valued at approximately $48,303,706.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more 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 Monday, April 22nd, Orbimed Advisors Llc sold 24,609 shares of NeuroPace stock. The shares were 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 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 Price Performance

Shares of NASDAQ NPCE opened at $13.39 on Friday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 5.02 and a current ratio of 5.71. NeuroPace, Inc. has a 1-year low of $3.80 and a 1-year high of $18.15. The business has a fifty day moving average price of $14.25 and a 200 day moving average price of $11.59.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($0.23) earnings per share 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%. Research analysts anticipate that NeuroPace, Inc. will post -1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeuroPace

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NPCE. Citigroup Inc. purchased a new stake in NeuroPace in the third quarter valued at about $29,000. Barclays PLC raised its stake in NeuroPace by 9,085.6% in the third quarter. Barclays PLC now owns 10,839 shares of the company’s stock valued at $105,000 after buying an additional 10,721 shares during the last quarter. EAM Investors LLC purchased a new stake in NeuroPace in the third quarter valued at about $1,378,000. Finally, Kent Lake Capital LLC raised its stake in NeuroPace by 285.0% in the third quarter. Kent Lake Capital LLC now owns 574,417 shares of the company’s stock valued at $5,589,000 after buying an additional 425,212 shares during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on NPCE shares. Wells Fargo & Company upgraded NeuroPace from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $16.00 to $20.00 in a report on Thursday, March 14th. Leerink Partnrs reissued an “outperform” rating on shares of NeuroPace in a research report on Tuesday, January 30th. Morgan Stanley raised their price objective on NeuroPace from $9.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. SVB Leerink began coverage on NeuroPace in a research report on Tuesday, January 30th. They set an “outperform” rating and a $22.00 price objective for the company. Finally, Cantor Fitzgerald raised 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.