NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Sells $6,692,916.51 in Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 461,899 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $14.49, for a total transaction of $6,692,916.51. Following the sale, the insider now directly owns 3,542,068 shares in the company, valued at approximately $51,324,565.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

NeuroPace Stock Performance

Shares of NASDAQ:NPCE opened at $13.40 on Tuesday. The company has a market cap of $352.15 million, a price-to-earnings ratio of -10.47 and a beta of 2.09. The company has a 50-day moving average price of $14.68 and a 200-day moving average price of $11.30. The company has a current ratio of 5.71, a quick ratio of 5.02 and a debt-to-equity ratio of 2.76. NeuroPace, Inc. has a 12 month low of $3.80 and a 12 month high of $18.15.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings data 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 firm had revenue of $18.01 million during the quarter, compared to the consensus estimate of $17.74 million. As a group, equities analysts anticipate that NeuroPace, Inc. will post -1.14 EPS for the current year.

Hedge Funds Weigh In On NeuroPace

A number of institutional investors have recently bought and sold shares of the stock. State Street Corp raised its stake in NeuroPace by 2.1% in the first quarter. State Street Corp now owns 98,717 shares of the company’s stock worth $810,000 after buying an additional 2,042 shares in the last quarter. Renaissance Technologies LLC raised its stake in NeuroPace by 19.3% in the second quarter. Renaissance Technologies LLC now owns 17,300 shares of the company’s stock worth $78,000 after buying an additional 2,800 shares in the last quarter. Citigroup Inc. bought a new position in NeuroPace in the third quarter worth about $29,000. Barclays PLC raised its stake in NeuroPace by 28.9% in the fourth quarter. Barclays PLC now owns 13,971 shares of the company’s stock worth $144,000 after buying an additional 3,132 shares in the last quarter. Finally, BlackRock Inc. raised its stake in NeuroPace by 11.2% in the second quarter. BlackRock Inc. now owns 36,117 shares of the company’s stock worth $162,000 after buying an additional 3,646 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NPCE. Cantor Fitzgerald boosted their target price on shares of NeuroPace from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. 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 for the company. Leerink Partnrs restated an “outperform” rating on shares of NeuroPace in a research report on Tuesday, January 30th. Morgan Stanley upped 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, Wells Fargo & Company upgraded shares of NeuroPace from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $16.00 to $20.00 in a research report on Thursday, March 14th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus 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.