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 that occurred on Wednesday, April 24th. The stock was sold at an average price of $14.06, for a total transaction of $25,040.86. Following the completion of the sale, the insider now owns 3,435,541 shares of the company’s stock, valued at $48,303,706.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% 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 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 stock was 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 transaction 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 Price Performance

NeuroPace stock traded up $0.40 during trading on Friday, reaching $13.39. The company had a trading volume of 69,085 shares, compared to its average volume of 105,007. The firm’s 50-day simple moving average is $14.31 and its 200 day simple moving average is $11.55. 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 $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.

NeuroPace (NASDAQ:NPCE) last announced 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 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, equities research analysts anticipate that NeuroPace, Inc. will post -1.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. SVB Leerink began coverage on shares of NeuroPace in a research report on Tuesday, January 30th. They set an “outperform” rating and a $22.00 price target for the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of NeuroPace in a report on Tuesday, January 30th. Cantor Fitzgerald lifted their target price on shares of NeuroPace from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Morgan Stanley lifted their target price 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 lifted their target price for the company from $16.00 to $20.00 in a report on Thursday, March 14th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, NeuroPace has a consensus rating of “Moderate Buy” and an average target price of $15.67.

Institutional Investors Weigh In On NeuroPace

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. acquired a new position in shares of NeuroPace during the 3rd quarter valued at about $29,000. Barclays PLC raised its holdings in NeuroPace by 9,085.6% in the 3rd quarter. Barclays PLC now owns 10,839 shares of the company’s stock valued at $105,000 after buying an additional 10,721 shares during the period. EAM Investors LLC purchased a new stake in NeuroPace in the 3rd quarter valued at about $1,378,000. Finally, Kent Lake Capital LLC raised its holdings in NeuroPace by 285.0% in the 3rd quarter. Kent Lake Capital LLC now owns 574,417 shares of the company’s stock valued at $5,589,000 after buying an additional 425,212 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

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.