NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Sells $65,576.22 in Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 4,674 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $14.03, for a total value of $65,576.22. Following the completion of the transaction, the insider now directly owns 3,406,335 shares in the company, valued at $47,790,880.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% 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 Wednesday, May 1st, Orbimed Advisors Llc sold 15,690 shares of NeuroPace stock. The shares were sold at an average price of $14.02, for a total transaction of $219,973.80.
• 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 shares were 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 stock was 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 shares were sold at an average price of $14.49, for a total value of $6,692,916.51.

NeuroPace Price Performance

NASDAQ NPCE opened at $13.64 on Monday. The company has a 50-day moving average price of $13.98 and a two-hundred day moving average price of $11.92. The stock has a market cap of $391.74 million, a price-to-earnings ratio of -10.66 and a beta of 2.06. The company has a current ratio of 5.71, a quick ratio of 5.02 and a debt-to-equity ratio of 2.76. NeuroPace, Inc. has a 52 week low of $3.80 and a 52 week high of $18.15.

NeuroPace (NASDAQ:NPCE) last posted its earnings results on Tuesday, March 5th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $18.01 million for the quarter, compared to analysts’ expectations of $17.74 million. Analysts forecast that NeuroPace, Inc. will post -1.14 EPS for the current year.

Institutional Investors Weigh In On NeuroPace

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kent Lake Capital LLC grew its position in NeuroPace by 16.8% in the 4th quarter. Kent Lake Capital LLC now owns 670,946 shares of the company’s stock valued at $6,917,000 after buying an additional 96,529 shares in the last quarter. EAM Investors LLC acquired a new stake in shares of NeuroPace in the 3rd quarter worth approximately $1,378,000. Barclays PLC boosted its holdings in shares of NeuroPace by 9,085.6% in 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 in the last quarter. Finally, Citigroup Inc. acquired a new position in shares of NeuroPace during the third quarter valued at approximately $29,000. 78.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NPCE has been the subject of a number of research reports. Leerink Partnrs reaffirmed an “outperform” rating on shares of NeuroPace in a report on Tuesday, January 30th. SVB Leerink began coverage on shares of NeuroPace in a research report on Tuesday, January 30th. They set an “outperform” rating and a $22.00 price objective for the company. Cantor Fitzgerald raised their target price on shares of NeuroPace from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Wells Fargo & Company raised NeuroPace from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $16.00 to $20.00 in a report on Thursday, March 14th. Finally, Morgan Stanley raised their price target on NeuroPace from $9.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NeuroPace presently has a consensus rating of “Moderate Buy” and an average target price 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.