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

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 4,674 shares of NeuroPace stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $14.03, for a total transaction of $65,576.22. Following the transaction, the insider now directly owns 3,406,335 shares in the company, valued at approximately $47,790,880.05. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 value of $25,040.86.
• 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 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 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

Shares of NPCE traded down $0.26 during midday trading on Friday, reaching $13.64. The stock had a trading volume of 43,022 shares, compared to its average volume of 104,343. The company has a current ratio of 5.71, a quick ratio of 5.02 and a debt-to-equity ratio of 2.76. The firm has a 50 day simple moving average of $14.04 and a 200-day simple moving average of $11.78. The firm has a market cap of $391.74 million, a PE ratio of -10.66 and a beta of 2.06. NeuroPace, Inc. has a one year low of $3.80 and a one year high of $18.15.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $18.01 million for the quarter, compared to analyst estimates of $17.74 million. As a group, sell-side analysts anticipate that NeuroPace, Inc. will post -1.14 EPS for the current year.

Institutional Investors Weigh In On NeuroPace

Several hedge funds have recently added to or reduced their stakes in NPCE. Citigroup Inc. acquired a new position in shares of NeuroPace in the third quarter valued at $29,000. Barclays PLC boosted its holdings in shares of 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 buying an additional 10,721 shares during the period. EAM Investors LLC acquired a new position in NeuroPace in the 3rd quarter valued at about $1,378,000. Finally, Kent Lake Capital LLC raised its holdings in 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 acquiring an additional 425,212 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Leerink Partnrs reissued an “outperform” rating on shares of NeuroPace in a research note on Tuesday, January 30th. Cantor Fitzgerald upped their price target on NeuroPace from $16.00 to $18.00 and gave the stock 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 objective for the company from $16.00 to $20.00 in a report on Thursday, March 14th. Morgan Stanley raised their target price 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 began coverage on shares of NeuroPace in a research report on Tuesday, January 30th. They set an “outperform” rating and a $22.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.67.

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.