NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Orbimed Advisors Llc Sells 24,609 Shares

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 24,609 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $14.05, for a total transaction of $345,756.45. Following the completion of the sale, the insider now owns 3,459,113 shares in the company, valued at $48,600,537.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 shares were 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 shares were 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 Up 0.1 %

Shares of NASDAQ:NPCE opened at $14.01 on Wednesday. NeuroPace, Inc. has a 1 year low of $3.80 and a 1 year high of $18.15. The firm has a market capitalization of $368.18 million, a PE ratio of -10.95 and a beta of 2.09. 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’s 50-day moving average is $14.41 and its two-hundred day moving average is $11.52.

NeuroPace (NASDAQ:NPCE) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $18.01 million during the quarter, compared to the consensus estimate of $17.74 million. Analysts predict that NeuroPace, Inc. will post -1.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NPCE. Wells Fargo & Company upgraded shares of NeuroPace from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $16.00 to $20.00 in a report 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 objective on the stock. Lake Street Capital reiterated a “buy” rating and set a $12.00 price target on shares of NeuroPace in a research note on Wednesday, December 27th. Morgan Stanley boosted their price target on shares of NeuroPace from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Finally, Cantor Fitzgerald boosted their price target on shares of NeuroPace from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, NeuroPace presently has a consensus rating of “Moderate Buy” and an average target price of $15.67.

Hedge Funds Weigh In On NeuroPace

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kent Lake Capital LLC grew its position in shares of NeuroPace by 16.8% during the fourth quarter. Kent Lake Capital LLC now owns 670,946 shares of the company’s stock worth $6,917,000 after buying an additional 96,529 shares in the last quarter. EAM Investors LLC acquired a new position in shares of NeuroPace during the third quarter worth about $1,378,000. Barclays PLC grew its position in shares of NeuroPace by 9,085.6% during the third quarter. Barclays PLC now owns 10,839 shares of the company’s stock worth $105,000 after buying an additional 10,721 shares in the last quarter. Finally, Citigroup Inc. acquired a new position in shares of NeuroPace during the third quarter worth about $29,000. 78.83% of the stock is owned by institutional investors and hedge funds.

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.