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 firm’s stock in a transaction 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 directly owns 3,504,898 shares in the company, valued at $49,103,620.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions 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 shares were sold at an average price of $14.49, for a total value of $6,692,916.51.

NeuroPace Stock Down 0.1 %

NPCE opened at $13.98 on Friday. The firm has a 50-day simple moving average of $14.48 and a two-hundred day simple moving average of $11.42. NeuroPace, Inc. has a 52 week low of $3.80 and a 52 week high of $18.15. The company has a market capitalization of $367.39 million, a PE ratio of -10.92 and a beta of 2.08. The company has a quick ratio of 5.02, a current ratio of 5.71 and a debt-to-equity ratio of 2.76.

NeuroPace (NASDAQ:NPCE) last announced its earnings results on Tuesday, March 5th. The company reported ($0.23) earnings per share (EPS) 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%. Analysts forecast that NeuroPace, Inc. will post -1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NeuroPace

Several large investors have recently modified their holdings of NPCE. Citigroup Inc. purchased a new position in NeuroPace during the third quarter worth $29,000. Renaissance Technologies LLC purchased a new position in shares of NeuroPace during the 2nd quarter worth about $63,000. Susquehanna International Group LLP bought a new position in NeuroPace during the 1st quarter valued at about $65,000. Barclays PLC raised its position in NeuroPace by 9,085.6% in the 3rd 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. Finally, Geode Capital Management LLC lifted its stake in NeuroPace by 9.1% in the fourth quarter. Geode Capital Management LLC now owns 71,515 shares of the company’s stock worth $106,000 after purchasing an additional 5,945 shares during the last quarter. Institutional investors own 78.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on NPCE. Leerink Partnrs restated an “outperform” rating on shares of NeuroPace in a research note on Tuesday, January 30th. 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 research note on Wednesday, March 6th. Lake Street Capital reiterated a “buy” rating and issued a $12.00 price target on shares of NeuroPace in a research note on Wednesday, December 27th. SVB Leerink initiated coverage on NeuroPace in a research report on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, Cantor Fitzgerald increased their target price on NeuroPace from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.