Orbimed Advisors Llc Sells 1,781 Shares of NeuroPace, Inc. (NASDAQ:NPCE) Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 1,781 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $14.06, for a total value of $25,040.86. Following the sale, the insider now owns 3,435,541 shares of the company’s stock, valued at approximately $48,303,706.46. The sale was disclosed in a document filed 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 transactions with the SEC.

Orbimed Advisors Llc also recently made the following trade(s):

• 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 value 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 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 3.1 %

NASDAQ:NPCE opened at $13.39 on Monday. NeuroPace, Inc. has a 12-month low of $3.80 and a 12-month high of $18.15. The firm has a market capitalization of $384.56 million, a P/E ratio of -10.46 and a beta of 2.08. 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 business has a 50 day simple moving average of $14.25 and a 200 day simple moving average of $11.65.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on NPCE. Morgan Stanley lifted their target price on NeuroPace from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 6th. Wells Fargo & Company upgraded NeuroPace from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $16.00 to $20.00 in a research report on Thursday, March 14th. Cantor Fitzgerald lifted 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. Leerink Partnrs reiterated an “outperform” rating on shares of NeuroPace in a research report on Tuesday, January 30th. Finally, SVB Leerink began coverage on NeuroPace in a research report on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 target price for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.67.

Institutional Trading of NeuroPace

Hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. bought a new stake in NeuroPace during the 3rd quarter valued at $29,000. Barclays PLC raised its stake in NeuroPace by 9,085.6% during the 3rd 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. EAM Investors LLC bought a new stake in NeuroPace during the 3rd quarter valued at $1,378,000. Finally, Kent Lake Capital LLC raised its stake in NeuroPace by 285.0% during the 3rd quarter. Kent Lake Capital LLC now owns 574,417 shares of the company’s stock valued at $5,589,000 after acquiring an additional 425,212 shares in the last quarter. Institutional investors 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.