NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Orbimed Advisors Llc Sells 15,690 Shares

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 15,690 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $14.02, for a total transaction of $219,973.80. Following the transaction, the insider now owns 3,419,851 shares in the company, valued at approximately $47,946,311.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Friday, May 3rd, Orbimed Advisors Llc sold 4,674 shares of NeuroPace stock. The stock was sold at an average price of $14.03, for a total transaction of $65,576.22.
• 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 transaction 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 transaction 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 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 stock was sold at an average price of $14.49, for a total value of $6,692,916.51.

NeuroPace Stock Down 1.9 %

NASDAQ:NPCE opened at $13.64 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 52 week low of $3.80 and a 52 week high of $18.15. The stock’s 50-day moving average price is $13.98 and its 200-day moving average price is $11.83.

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

Wall Street Analysts Forecast Growth

NPCE has been the subject of several research reports. 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 research note on Thursday, March 14th. SVB Leerink assumed coverage on shares of NeuroPace in a report on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 price target on the stock. Morgan Stanley lifted their price objective on NeuroPace from $9.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. Cantor Fitzgerald boosted their price objective on NeuroPace from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of NeuroPace in a report on Tuesday, January 30th. One investment 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, NeuroPace currently has an average rating of “Moderate Buy” and an average price target of $15.67.

Institutional Trading of NeuroPace

A number of institutional investors and hedge funds have recently modified their holdings of NPCE. Kent Lake Capital LLC raised its position in shares of NeuroPace by 16.8% during the 4th quarter. Kent Lake Capital LLC now owns 670,946 shares of the company’s stock worth $6,917,000 after purchasing an additional 96,529 shares during the last quarter. EAM Investors LLC purchased a new stake in NeuroPace during the 3rd quarter worth approximately $1,378,000. Barclays PLC raised its holdings in shares of NeuroPace by 9,085.6% during the third quarter. Barclays PLC now owns 10,839 shares of the company’s stock valued at $105,000 after acquiring an additional 10,721 shares during the last quarter. Finally, Citigroup Inc. purchased a new position in shares of NeuroPace in the third quarter valued at approximately $29,000. Hedge funds and other 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.