NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Orbimed Advisors Llc Sells 14,069 Shares

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 14,069 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $14.01, for a total transaction of $197,106.69. Following the transaction, the insider now directly owns 3,504,898 shares of the company’s stock, valued at approximately $49,103,620.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more 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 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 transaction of $36,879.38.
• 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 Up 1.8 %

NASDAQ:NPCE traded up $0.25 during mid-day trading on Thursday, hitting $14.00. The stock had a trading volume of 65,350 shares, compared to its average volume of 106,465. The stock has a 50-day simple moving average of $14.59 and a two-hundred day simple moving average of $11.34. The company has a market capitalization of $367.92 million, a PE ratio of -10.94 and a beta of 2.08. NeuroPace, Inc. has a twelve month low of $3.80 and a twelve month high of $18.15. 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 for the quarter, beating the consensus estimate of ($0.33) by $0.10. The firm 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%. On average, equities research analysts anticipate that NeuroPace, Inc. will post -1.14 EPS for the current year.

Institutional Trading of NeuroPace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. acquired a new stake in NeuroPace during the third quarter worth approximately $29,000. Virtu Financial LLC acquired a new stake in NeuroPace during the fourth quarter worth approximately $111,000. Barclays PLC raised its holdings 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 in the last quarter. Renaissance Technologies LLC acquired a new stake in NeuroPace during the second quarter worth approximately $63,000. Finally, Susquehanna International Group LLP acquired a new stake in NeuroPace during the first quarter worth approximately $65,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

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