Insider Selling: NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Sells 2,623 Shares of Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 2,623 shares of the business’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $14.06, for a total value of $36,879.38. Following the completion of the sale, the insider now directly owns 3,501,975 shares of the company’s stock, valued at $49,237,768.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 10% 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 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 shares were sold at an average price of $14.49, for a total value of $6,692,916.51.

NeuroPace Trading Up 1.8 %

NPCE stock opened at $14.00 on Friday. The stock’s fifty day simple moving average is $14.53 and its 200-day simple moving average is $11.36. 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.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings data 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 company had revenue of $18.01 million for the quarter, compared to analyst estimates of $17.74 million. Equities analysts predict that NeuroPace, Inc. will post -1.14 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on NPCE shares. Morgan Stanley upped 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. SVB Leerink assumed 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. Cantor Fitzgerald increased their target price on NeuroPace from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Leerink Partnrs reissued an “outperform” rating on shares of NeuroPace in a research note on Tuesday, January 30th. Finally, Lake Street Capital reissued a “buy” rating and set a $12.00 target price on shares of NeuroPace in a research note on Wednesday, December 27th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.67.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of NeuroPace by 2.1% during the first quarter. State Street Corp now owns 98,717 shares of the company’s stock valued at $810,000 after acquiring an additional 2,042 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of NeuroPace by 19.3% during the second quarter. Renaissance Technologies LLC now owns 17,300 shares of the company’s stock valued at $78,000 after acquiring an additional 2,800 shares in the last quarter. Citigroup Inc. acquired a new stake in shares of NeuroPace during the third quarter valued at about $29,000. Barclays PLC grew its stake in shares of NeuroPace by 28.9% during the fourth quarter. Barclays PLC now owns 13,971 shares of the company’s stock valued at $144,000 after acquiring an additional 3,132 shares in the last quarter. Finally, BlackRock Inc. grew its stake in shares of NeuroPace by 11.2% during the second quarter. BlackRock Inc. now owns 36,117 shares of the company’s stock valued at $162,000 after acquiring an additional 3,646 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

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.