NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Orbimed Advisors Llc Sells 15,690 Shares of Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 15,690 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $14.02, for a total value of $219,973.80. Following the completion of the sale, the insider now directly owns 3,419,851 shares of the company’s stock, valued at $47,946,311.02. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 transaction 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 transaction 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 shares were 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 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 Friday. The company has a quick ratio of 5.02, a current ratio of 5.71 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. The firm’s 50-day simple moving average is $14.04 and its two-hundred day simple moving average is $11.78.

NeuroPace (NASDAQ:NPCE) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.10. The company had revenue of $18.01 million for the quarter, compared to analysts’ expectations of $17.74 million. NeuroPace had a negative net margin of 50.38% and a negative return on equity of 153.76%. Research analysts predict that NeuroPace, Inc. will post -1.14 EPS for the current year.

Institutional Investors Weigh In On NeuroPace

Institutional investors have recently made changes to their positions in the stock. Citigroup Inc. purchased a new stake in shares of NeuroPace in the third quarter worth about $29,000. Barclays PLC increased its holdings in NeuroPace by 9,085.6% during the 3rd quarter. Barclays PLC now owns 10,839 shares of the company’s stock worth $105,000 after acquiring an additional 10,721 shares during the period. Kent Lake Capital LLC lifted its stake in NeuroPace by 16.8% in the 4th quarter. Kent Lake Capital LLC now owns 670,946 shares of the company’s stock worth $6,917,000 after purchasing an additional 96,529 shares in the last quarter. Finally, EAM Investors LLC purchased a new stake in NeuroPace in the 3rd quarter worth approximately $1,378,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NPCE shares. Cantor Fitzgerald boosted their price objective 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 reissued an “outperform” rating on shares of NeuroPace in a report on Tuesday, January 30th. Morgan Stanley raised their price objective on shares of NeuroPace from $9.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. SVB Leerink initiated coverage on shares of NeuroPace in a research report on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, Wells Fargo & Company raised shares of 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 research report on Thursday, March 14th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average 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.