Orbimed Advisors Llc Sells 15,690 Shares of NeuroPace, Inc. (NASDAQ:NPCE) Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 15,690 shares of NeuroPace stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $14.02, for a total value of $219,973.80. Following the sale, the insider now directly owns 3,419,851 shares of the company’s stock, valued at approximately $47,946,311.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Orbimed Advisors Llc also recently made the following trade(s):

• On Friday, May 3rd, Orbimed Advisors Llc sold 4,674 shares of NeuroPace stock. The shares were sold at an average price of $14.03, for a total value of $65,576.22.
• On Wednesday, April 24th, Orbimed Advisors Llc sold 1,781 shares of NeuroPace stock. The stock was sold at an average price of $14.06, for a total transaction of $25,040.86.
• 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 shares were 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 shares were sold at an average price of $14.49, for a total value of $6,692,916.51.

NeuroPace Stock Down 1.9 %

NeuroPace stock opened at $13.64 on Friday. The firm has a 50-day moving average of $13.98 and a 200-day moving average of $11.83. NeuroPace, Inc. has a 1-year low of $3.80 and a 1-year high of $18.15. The company has a current ratio of 5.71, a quick ratio of 5.02 and a debt-to-equity ratio of 2.76.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Barclays PLC increased its stake in shares of NeuroPace by 9,085.6% during the third quarter. Barclays PLC now owns 10,839 shares of the company’s stock valued at $105,000 after purchasing an additional 10,721 shares in the last quarter. EAM Investors LLC purchased a new stake in shares of NeuroPace in the 3rd quarter worth approximately $1,378,000. Kent Lake Capital LLC increased its position in NeuroPace by 285.0% during 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 in the last quarter. Finally, Citigroup Inc. purchased a new position in NeuroPace during the third quarter valued at $29,000. 78.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NPCE shares. SVB Leerink began coverage on NeuroPace in a research report on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 target price for the company. Morgan Stanley boosted their price target on shares of NeuroPace from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. Cantor Fitzgerald raised their price objective on NeuroPace from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Leerink Partnrs reissued an “outperform” rating on shares of NeuroPace in a research note on Tuesday, January 30th. Finally, Wells Fargo & Company upgraded NeuroPace from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $16.00 to $20.00 in a research report on Thursday, March 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently 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.