Insider Selling: NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Sells 14,069 Shares of Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 14,069 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $14.01, for a total value of $197,106.69. Following the completion of the transaction, the insider now owns 3,504,898 shares of the company’s stock, valued at approximately $49,103,620.98. The transaction was disclosed in a filing with the SEC, 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 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 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 Performance

Shares of NPCE stock traded up $0.25 on Thursday, hitting $14.00. 65,350 shares of the stock traded hands, compared to its average volume of 106,465. 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 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 1-year low of $3.80 and a 1-year high of $18.15. The company’s fifty day moving average is $14.59 and its 200 day moving average is $11.34.

NeuroPace (NASDAQ:NPCE) last issued its earnings results on Tuesday, March 5th. The company reported ($0.23) earnings per share 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 firm had revenue of $18.01 million for the quarter, compared to analyst estimates of $17.74 million. On average, equities research analysts predict that NeuroPace, Inc. will post -1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeuroPace

Several large investors have recently added to or reduced their stakes in the stock. Kent Lake Capital LLC grew its stake 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 worth $5,589,000 after purchasing an additional 425,212 shares in the last quarter. Nantahala Capital Management LLC boosted its stake in NeuroPace by 58.6% during the first quarter. Nantahala Capital Management LLC now owns 485,303 shares of the company’s stock valued at $3,984,000 after buying an additional 179,397 shares in the last quarter. EAM Investors LLC bought a new position in NeuroPace during the third quarter valued at about $1,378,000. Millennium Management LLC boosted its position in shares of NeuroPace by 18.2% in the 4th quarter. Millennium Management LLC now owns 691,899 shares of the company’s stock valued at $1,031,000 after purchasing an additional 106,532 shares during the period. Finally, Morgan Stanley boosted its position in shares of NeuroPace by 3.1% in the 4th quarter. Morgan Stanley now owns 2,188,593 shares of the company’s stock valued at $3,261,000 after purchasing an additional 64,990 shares during the period. 78.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NPCE shares. Leerink Partnrs restated an “outperform” rating on shares of NeuroPace in a report on Tuesday, January 30th. Morgan Stanley upped their target price on NeuroPace from $9.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 6th. Cantor Fitzgerald upped their target price on NeuroPace from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. SVB Leerink started coverage on NeuroPace in a research report on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 target price on the stock. Finally, Wells Fargo & Company raised NeuroPace from an “equal weight” rating to an “overweight” rating and upped 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 company. According to MarketBeat.com, NeuroPace has a consensus rating of “Moderate Buy” and an average price target 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.