NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Orbimed Advisors Llc Sells 461,899 Shares

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 461,899 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $14.49, for a total value of $6,692,916.51. Following the completion of the transaction, the insider now owns 3,542,068 shares in the company, valued at $51,324,565.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

NeuroPace Price Performance

NASDAQ:NPCE opened at $13.40 on Tuesday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 5.02 and a current ratio of 5.71. The stock’s 50-day simple moving average is $14.68 and its 200 day simple moving average is $11.30. The company has a market cap of $352.15 million, a P/E ratio of -10.47 and a beta of 2.09. NeuroPace, Inc. has a 52-week low of $3.80 and a 52-week high of $18.15.

NeuroPace (NASDAQ:NPCE) last released its 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 business had revenue of $18.01 million for the quarter, compared to the consensus estimate of $17.74 million. NeuroPace had a negative return on equity of 153.76% and a negative net margin of 50.38%. As a group, sell-side analysts forecast that NeuroPace, Inc. will post -1.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NPCE. Leerink Partnrs restated an “outperform” rating on shares of NeuroPace in a research report on Tuesday, January 30th. SVB Leerink assumed coverage on NeuroPace in a research note on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 price target on the stock. Cantor Fitzgerald lifted their price target on NeuroPace from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Lake Street Capital reissued a “buy” rating and issued a $12.00 price target on shares of NeuroPace in a research note on Wednesday, December 27th. Finally, Wells Fargo & Company raised NeuroPace from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $16.00 to $20.00 in a research note on Thursday, March 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, NeuroPace currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.67.

Hedge Funds Weigh In On NeuroPace

A number of institutional investors have recently bought and sold shares of NPCE. Citigroup Inc. acquired a new position in NeuroPace during the third quarter worth approximately $29,000. Renaissance Technologies LLC acquired a new position in NeuroPace during the second quarter worth approximately $63,000. Susquehanna International Group LLP acquired a new position in NeuroPace during the first quarter worth approximately $65,000. Barclays PLC increased its position in 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 during the last quarter. Finally, Geode Capital Management LLC increased its position in NeuroPace by 9.1% during the fourth quarter. Geode Capital Management LLC now owns 71,515 shares of the company’s stock worth $106,000 after buying an additional 5,945 shares during the last quarter. 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.