Orbimed Advisors Llc Sells 4,674 Shares of NeuroPace, Inc. (NASDAQ:NPCE) Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 4,674 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 3,406,335 shares of the company’s stock, valued at $47,790,880.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 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 stock was 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 stock was sold at an average price of $14.49, for a total transaction of $6,692,916.51.

NeuroPace Stock Performance

NASDAQ NPCE opened at $13.64 on Monday. The firm’s fifty day moving average price is $13.98 and its two-hundred day moving average price is $11.92. NeuroPace, Inc. has a 1 year low of $3.80 and a 1 year high of $18.15. The firm has a market capitalization of $391.74 million, a P/E 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 (NASDAQ:NPCE) last issued 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. NeuroPace had a negative net margin of 50.38% and a negative return on equity of 153.76%. The company had revenue of $18.01 million for the quarter, compared to analysts’ expectations of $17.74 million. As a group, research analysts anticipate that NeuroPace, Inc. will post -1.14 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald raised their price objective on shares of NeuroPace from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. SVB Leerink initiated coverage on NeuroPace in a report on Tuesday, January 30th. They set an “outperform” rating and a $22.00 price objective for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of NeuroPace in a research note on Tuesday, January 30th. Morgan Stanley lifted their price objective on shares of NeuroPace from $9.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Finally, Wells Fargo & Company raised shares of NeuroPace from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $16.00 to $20.00 in a research report on Thursday, March 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.67.

Institutional Trading of NeuroPace

Hedge funds have recently made changes to their positions in the business. Citigroup Inc. acquired a new position in shares of NeuroPace during the 3rd quarter worth approximately $29,000. Barclays PLC boosted 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 purchasing an additional 10,721 shares during the period. Kent Lake Capital LLC increased its holdings in shares of NeuroPace by 16.8% in the fourth quarter. Kent Lake Capital LLC now owns 670,946 shares of the company’s stock valued at $6,917,000 after purchasing an additional 96,529 shares during the last quarter. Finally, EAM Investors LLC bought a new position in shares of NeuroPace in the third quarter valued at about $1,378,000. 78.83% of the stock is owned by institutional investors and hedge funds.

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.