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

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 14,069 shares of the business’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 approximately $49,103,620.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more 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 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 Trading Down 0.1 %

NASDAQ:NPCE opened at $13.98 on Friday. NeuroPace, Inc. has a 1-year low of $3.80 and a 1-year high of $18.15. The business’s 50-day moving average price is $14.48 and its two-hundred day moving average price is $11.40. The company has a current ratio of 5.71, a quick ratio of 5.02 and a debt-to-equity ratio of 2.76. The firm has a market capitalization of $367.39 million, a price-to-earnings ratio of -10.92 and a beta of 2.08.

NeuroPace (NASDAQ:NPCE) last released 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. 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 analysts expect that NeuroPace, Inc. will post -1.14 earnings per share for the current year.

Hedge Funds Weigh In On NeuroPace

Several hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. bought a new stake in shares of NeuroPace in the third quarter worth about $29,000. Virtu Financial LLC bought a new stake in shares of NeuroPace in the fourth quarter worth about $111,000. Barclays PLC increased its holdings in shares of NeuroPace by 9,085.6% in the third quarter. Barclays PLC now owns 10,839 shares of the company’s stock worth $105,000 after acquiring an additional 10,721 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of NeuroPace in the second quarter worth about $63,000. Finally, Susquehanna International Group LLP bought a new stake in shares of NeuroPace in the first quarter worth about $65,000. Institutional investors and hedge funds own 78.83% of the company’s stock.

Analyst Ratings Changes

NPCE has been the topic of several research reports. Lake Street Capital reaffirmed a “buy” rating and set a $12.00 price target on shares of NeuroPace in a research note on Wednesday, December 27th. Wells Fargo & Company raised NeuroPace from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $16.00 to $20.00 in a research note on Thursday, March 14th. SVB Leerink initiated coverage on NeuroPace in a research note on Tuesday, January 30th. They set an “outperform” rating and a $22.00 price target on the stock. Morgan Stanley upped their price target on 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 reaffirmed an “outperform” rating on shares of NeuroPace in a research note on Tuesday, January 30th. 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.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.