Orbimed Advisors Llc Sells 24,609 Shares of NeuroPace, Inc. (NASDAQ:NPCE) Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 24,609 shares of NeuroPace stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $14.05, for a total transaction of $345,756.45. Following the completion of the transaction, the insider now owns 3,459,113 shares of the company’s stock, valued at $48,600,537.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more 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 shares were sold at an average price of $14.06, for a total value of $36,879.38.
• On Tuesday, April 16th, Orbimed Advisors Llc sold 14,069 shares of NeuroPace stock. The shares were 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 transaction of $6,692,916.51.

NeuroPace Stock Down 3.2 %

Shares of NeuroPace stock opened at $13.56 on Thursday. The company’s 50 day moving average price is $14.38 and its 200-day moving average price is $11.54. NeuroPace, Inc. has a 52-week low of $3.80 and a 52-week high of $18.15. The company has a debt-to-equity ratio of 2.76, a quick ratio of 5.02 and a current ratio of 5.71. The stock has a market capitalization of $356.36 million, a price-to-earnings ratio of -10.59 and a beta of 2.08.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts forecast that NeuroPace, Inc. will post -1.14 EPS for the current year.

Hedge Funds Weigh In On NeuroPace

Several hedge funds have recently made changes to their positions in the business. Citigroup Inc. purchased a new position in NeuroPace during the 3rd quarter valued at $29,000. Barclays PLC grew its holdings in shares of NeuroPace by 9,085.6% during the 3rd quarter. Barclays PLC now owns 10,839 shares of the company’s stock worth $105,000 after acquiring an additional 10,721 shares during the period. Kent Lake Capital LLC raised its position in shares of NeuroPace by 16.8% in the 4th quarter. Kent Lake Capital LLC now owns 670,946 shares of the company’s stock worth $6,917,000 after acquiring an additional 96,529 shares in the last quarter. Finally, EAM Investors LLC purchased a new position in shares of NeuroPace in the 3rd quarter valued at approximately $1,378,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on NPCE. SVB Leerink began coverage on NeuroPace in a report on Tuesday, January 30th. They set an “outperform” rating and a $22.00 price objective for the company. Morgan Stanley lifted their price objective on shares of NeuroPace from $9.00 to $13.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 6th. Wells Fargo & Company upgraded NeuroPace from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $16.00 to $20.00 in a research report on Thursday, March 14th. Cantor Fitzgerald increased their price target on shares of NeuroPace from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Finally, Leerink Partnrs restated an “outperform” rating on shares of NeuroPace in a report on Tuesday, January 30th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.