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 NeuroPace stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $14.06, for a total value of $25,040.86. Following the sale, the insider now directly owns 3,435,541 shares of the company’s stock, valued at $48,303,706.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 value 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 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 stock was sold at an average price of $14.49, for a total value of $6,692,916.51.

NeuroPace Stock Up 3.1 %

NPCE traded up $0.40 on Friday, hitting $13.39. 69,085 shares of the company were exchanged, compared to its average volume of 105,007. NeuroPace, Inc. has a 12 month low of $3.80 and a 12 month high of $18.15. The company has a market cap of $384.56 million, a PE ratio of -10.46 and a beta of 2.08. The company has a debt-to-equity ratio of 2.76, a quick ratio of 5.02 and a current ratio of 5.71. The stock’s fifty day moving average is $14.31 and its 200-day moving average is $11.55.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping 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 business had revenue of $18.01 million for 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 fiscal year.

Hedge Funds Weigh In On NeuroPace

A number of institutional investors have recently bought and sold shares of NPCE. Kent Lake Capital LLC grew its position in shares of NeuroPace by 285.0% in the third quarter. Kent Lake Capital LLC now owns 574,417 shares of the company’s stock valued at $5,589,000 after purchasing an additional 425,212 shares during the last quarter. EAM Investors LLC acquired a new position in shares of NeuroPace in the third quarter valued at approximately $1,378,000. Barclays PLC grew its position in shares of NeuroPace by 9,085.6% in the third quarter. Barclays PLC now owns 10,839 shares of the company’s stock valued at $105,000 after purchasing an additional 10,721 shares during the last quarter. Finally, Citigroup Inc. acquired a new position in shares of NeuroPace in the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on NPCE shares. Morgan Stanley lifted their target price on 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 NeuroPace in a report on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 price target on the stock. Leerink Partnrs restated an “outperform” rating on shares of NeuroPace in a report on Tuesday, January 30th. Wells Fargo & Company upgraded NeuroPace from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $16.00 to $20.00 in a report on Thursday, March 14th. Finally, Cantor Fitzgerald boosted their price target on NeuroPace from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $15.67.

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.