Orbimed Advisors Llc Sells 2,623 Shares of NeuroPace, Inc. (NASDAQ:NPCE) Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 2,623 shares of NeuroPace stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $14.06, for a total value of $36,879.38. Following the completion of the transaction, the insider now owns 3,501,975 shares of the company’s stock, valued at $49,237,768.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 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 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 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 company has a debt-to-equity ratio of 2.76, a quick ratio of 5.02 and a current ratio of 5.71. NeuroPace, Inc. has a 1-year low of $3.80 and a 1-year high of $18.15. The business has a 50 day moving average price of $14.48 and a two-hundred day moving average price of $11.40.

NeuroPace (NASDAQ:NPCE) last released its earnings results on Tuesday, March 5th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.10. The firm had revenue of $18.01 million during the quarter, compared to the consensus estimate of $17.74 million. NeuroPace had a negative return on equity of 153.76% and a negative net margin of 50.38%. Research analysts anticipate that NeuroPace, Inc. will post -1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeuroPace

A number of institutional investors have recently added to or reduced their stakes in NPCE. Citigroup Inc. acquired a new stake in NeuroPace in the third quarter worth approximately $29,000. Renaissance Technologies LLC acquired a new stake in shares of NeuroPace during the 2nd quarter valued at $63,000. Susquehanna International Group LLP acquired a new stake in shares of NeuroPace during the 1st quarter valued at $65,000. Barclays PLC lifted its position in shares of NeuroPace by 9,085.6% during the 3rd quarter. Barclays PLC now owns 10,839 shares of the company’s stock valued at $105,000 after acquiring an additional 10,721 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of NeuroPace by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 71,515 shares of the company’s stock valued at $106,000 after acquiring an additional 5,945 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. SVB Leerink assumed coverage on NeuroPace in a report on Tuesday, January 30th. They set an “outperform” rating and a $22.00 target price for the company. Leerink Partnrs reaffirmed 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 report on Wednesday, March 6th. Wells Fargo & Company raised NeuroPace from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $16.00 to $20.00 in a report on Thursday, March 14th. Finally, Lake Street Capital reissued a “buy” rating and issued a $12.00 price objective on shares of NeuroPace in a report on Wednesday, December 27th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NeuroPace has a consensus rating of “Moderate Buy” and a consensus 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.