NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Orbimed Advisors Llc Sells 14,069 Shares

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 14,069 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $14.01, for a total value of $197,106.69. Following the transaction, the insider now owns 3,504,898 shares in the company, valued at approximately $49,103,620.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases 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 stock was sold at an average price of $14.06, for a total value of $36,879.38.
• 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 value of $6,692,916.51.

NeuroPace Trading Down 0.1 %

Shares of NPCE stock opened at $13.98 on Friday. The firm has a market capitalization of $367.39 million, a P/E ratio of -10.92 and a beta of 2.08. NeuroPace, Inc. has a twelve month low of $3.80 and a twelve month high of $18.15. 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 stock’s fifty day simple moving average is $14.48 and its 200 day simple moving average is $11.40.

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 business had revenue of $18.01 million for the quarter, compared to analyst estimates of $17.74 million. NeuroPace had a negative return on equity of 153.76% and a negative net margin of 50.38%. As a group, sell-side analysts predict that NeuroPace, Inc. will post -1.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Lake Street Capital reiterated a “buy” rating and issued a $12.00 price target on shares of NeuroPace in a research note on Wednesday, December 27th. SVB Leerink assumed 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. Leerink Partnrs reiterated an “outperform” rating on shares of NeuroPace in a research note on Tuesday, January 30th. Morgan Stanley lifted their price target on NeuroPace from $9.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. Finally, Wells Fargo & Company upgraded 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 note 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’s stock. According to data from MarketBeat.com, NeuroPace currently has an average rating of “Moderate Buy” and a consensus price target of $15.67.

Institutional Investors Weigh In On NeuroPace

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nantahala Capital Management LLC lifted its holdings in NeuroPace by 58.6% during the 1st quarter. Nantahala Capital Management LLC now owns 485,303 shares of the company’s stock worth $3,984,000 after buying an additional 179,397 shares during the period. State Street Corp lifted its holdings in NeuroPace by 2.1% during the 1st quarter. State Street Corp now owns 98,717 shares of the company’s stock worth $810,000 after buying an additional 2,042 shares during the period. FMR LLC lifted its holdings in NeuroPace by 0.8% during the 2nd quarter. FMR LLC now owns 1,418,951 shares of the company’s stock worth $7,024,000 after buying an additional 11,645 shares during the period. Renaissance Technologies LLC acquired a new position in NeuroPace during the 2nd quarter worth about $63,000. Finally, Millennium Management LLC lifted its holdings in NeuroPace by 19.8% during the 2nd quarter. Millennium Management LLC now owns 506,905 shares of the company’s stock worth $2,509,000 after buying an additional 83,877 shares during the period. 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.