Orbimed Advisors Llc Sells 1,781 Shares of NeuroPace, Inc. (NASDAQ:NPCE) Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 1,781 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $14.06, for a total value of $25,040.86. Following the completion of the sale, the insider now owns 3,435,541 shares in the company, valued at $48,303,706.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% 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 Monday, April 22nd, Orbimed Advisors Llc sold 24,609 shares of NeuroPace stock. The shares were sold at an average price of $14.05, for a total value 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 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 value of $6,692,916.51.

NeuroPace Stock Up 3.1 %

NeuroPace stock opened at $13.39 on Friday. The business has a fifty day moving average of $14.25 and a two-hundred day moving average of $11.62. The company has a quick ratio of 5.02, a current ratio of 5.71 and a debt-to-equity ratio of 2.76. The firm has a market cap of $384.56 million, a P/E ratio of -10.46 and a beta of 2.08. NeuroPace, Inc. has a twelve month low of $3.80 and a twelve month high of $18.15.

NeuroPace (NASDAQ:NPCE) last posted 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 company had revenue of $18.01 million during the quarter, compared to analyst estimates of $17.74 million. NeuroPace had a negative return on equity of 153.76% and a negative net margin of 50.38%. On average, analysts forecast that NeuroPace, Inc. will post -1.14 earnings per share for the current fiscal year.

Institutional Trading of NeuroPace

Hedge funds have recently bought and sold shares of the stock. Citigroup Inc. purchased a new stake in NeuroPace during the third quarter worth $29,000. Barclays PLC lifted 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 valued at $105,000 after purchasing an additional 10,721 shares during the last quarter. EAM Investors LLC purchased a new stake in shares of NeuroPace during the 3rd quarter valued at $1,378,000. Finally, Kent Lake Capital LLC lifted its holdings in shares of 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 purchasing an additional 425,212 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Leerink Partnrs reissued an “outperform” rating on shares of NeuroPace in a research note on Tuesday, January 30th. 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 research note on Thursday, March 14th. Morgan Stanley increased their price objective on NeuroPace from $9.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 6th. SVB Leerink assumed coverage on NeuroPace in a research note on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, Cantor Fitzgerald increased their price objective on NeuroPace from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus 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.