NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Sells $219,973.80 in Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 15,690 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $14.02, for a total value of $219,973.80. Following the sale, the insider now directly 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 is available at the SEC website. Major 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 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 value of $65,576.22.
• On Wednesday, April 24th, Orbimed Advisors Llc sold 1,781 shares of NeuroPace stock. The shares were sold at an average price of $14.06, for a total value of $25,040.86.
• On Monday, April 22nd, Orbimed Advisors Llc sold 24,609 shares of NeuroPace stock. The stock was 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 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 Price Performance

Shares of NASDAQ NPCE opened at $13.64 on Monday. The company has a current ratio of 5.71, a quick ratio of 5.02 and a debt-to-equity ratio of 2.76. The stock has a market cap of $391.74 million, a P/E ratio of -10.66 and a beta of 2.06. The stock has a 50 day moving average of $13.98 and a two-hundred day moving average of $11.92. NeuroPace, Inc. has a twelve month low of $3.80 and a twelve month 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, topping analysts’ consensus estimates 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 analysts’ expectations of $17.74 million. On average, research analysts forecast that NeuroPace, Inc. will post -1.14 earnings per share for the current year.

Analysts Set New Price Targets

NPCE has been the topic of several recent analyst reports. Wells Fargo & Company raised NeuroPace from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $16.00 to $20.00 in a report on Thursday, March 14th. Cantor Fitzgerald raised their target price on NeuroPace from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. SVB Leerink began coverage on NeuroPace in a research note on Tuesday, January 30th. They set an “outperform” rating and a $22.00 target price for the company. Leerink Partnrs reiterated an “outperform” rating on shares of NeuroPace in a research note on Tuesday, January 30th. Finally, Morgan Stanley boosted their price objective on shares of NeuroPace from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $15.67.

Institutional Investors Weigh In On NeuroPace

Hedge funds have recently made changes to their positions in the business. Citigroup Inc. purchased a new stake in NeuroPace during the 3rd quarter valued at approximately $29,000. Barclays PLC lifted 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 worth $105,000 after purchasing an additional 10,721 shares during the period. EAM Investors LLC purchased a new position in NeuroPace in the 3rd quarter valued at $1,378,000. Finally, Kent Lake Capital LLC increased its stake in NeuroPace by 285.0% in the 3rd quarter. Kent Lake Capital LLC now owns 574,417 shares of the company’s stock valued at $5,589,000 after buying an additional 425,212 shares during the period. Institutional investors and hedge funds 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.