NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Sells $36,879.38 in Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 2,623 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $14.06, for a total transaction of $36,879.38. Following the transaction, the insider now owns 3,501,975 shares of the company’s stock, valued at approximately $49,237,768.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 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 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 stock was sold at an average price of $14.49, for a total transaction of $6,692,916.51.

NeuroPace Trading Down 0.1 %

Shares of NeuroPace stock opened at $13.98 on Friday. The company has a debt-to-equity ratio of 2.76, a current ratio of 5.71 and a quick ratio of 5.02. The firm has a 50 day simple moving average of $14.48 and a 200 day simple moving average of $11.40. NeuroPace, Inc. has a fifty-two week low of $3.80 and a fifty-two week high of $18.15.

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

Hedge Funds Weigh In On NeuroPace

A number of hedge funds and other institutional investors have recently bought and sold shares of NPCE. Nantahala Capital Management LLC boosted its stake in NeuroPace by 58.6% in the first quarter. Nantahala Capital Management LLC now owns 485,303 shares of the company’s stock valued at $3,984,000 after acquiring an additional 179,397 shares during the last quarter. State Street Corp boosted its stake in NeuroPace by 2.1% in the first quarter. State Street Corp now owns 98,717 shares of the company’s stock valued at $810,000 after acquiring an additional 2,042 shares during the last quarter. FMR LLC boosted its stake in NeuroPace by 0.8% in the second quarter. FMR LLC now owns 1,418,951 shares of the company’s stock valued at $7,024,000 after acquiring an additional 11,645 shares during the last quarter. Renaissance Technologies LLC bought a new position in NeuroPace in the second quarter valued at approximately $63,000. Finally, Millennium Management LLC boosted its stake in NeuroPace by 19.8% in the second quarter. Millennium Management LLC now owns 506,905 shares of the company’s stock valued at $2,509,000 after acquiring an additional 83,877 shares during the last quarter. 78.83% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of NeuroPace from $9.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Wells Fargo & Company raised shares of NeuroPace from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $16.00 to $20.00 in a report on Thursday, March 14th. Lake Street Capital reaffirmed a “buy” rating and set a $12.00 price objective on shares of NeuroPace in a report on Wednesday, December 27th. Leerink Partnrs reaffirmed an “outperform” rating on shares of NeuroPace in a report on Tuesday, January 30th. Finally, SVB Leerink assumed coverage on shares of NeuroPace in a report on Tuesday, January 30th. They set an “outperform” rating and a $22.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, NeuroPace has an average rating of “Moderate Buy” and an average 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.