NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Orbimed Advisors Llc Sells 461,899 Shares

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 461,899 shares of the business’s stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $14.49, for a total transaction of $6,692,916.51. Following the completion of the transaction, the insider now directly owns 3,542,068 shares in the company, valued at $51,324,565.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

NeuroPace Price Performance

Shares of NeuroPace stock traded down $0.10 on Monday, hitting $13.40. The company’s stock had a trading volume of 87,894 shares, compared to its average volume of 108,043. NeuroPace, Inc. has a 52-week low of $3.80 and a 52-week high of $18.15. 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 fifty day moving average price of $14.72 and a 200-day moving average price of $11.27. The company has a market capitalization of $352.15 million, a P/E ratio of -10.31 and a beta of 2.09.

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Lake Street Capital reissued a “buy” rating and issued a $12.00 price objective on shares of NeuroPace in a research note on Wednesday, December 27th. Morgan Stanley upped 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. Wells Fargo & Company raised shares of NeuroPace from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $16.00 to $20.00 in a research note on Thursday, March 14th. SVB Leerink started coverage on shares of NeuroPace in a research note on Tuesday, January 30th. They set an “outperform” rating and a $22.00 price target on the stock. Finally, Cantor Fitzgerald upped their price target on shares of NeuroPace from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.67.

Institutional Investors Weigh In On NeuroPace

Several institutional investors and hedge funds have recently made changes to their positions in NPCE. Nantahala Capital Management LLC boosted its position in shares of NeuroPace by 58.6% in the 1st quarter. Nantahala Capital Management LLC now owns 485,303 shares of the company’s stock worth $3,984,000 after buying an additional 179,397 shares in the last quarter. State Street Corp lifted its holdings in NeuroPace by 2.1% in the 1st quarter. State Street Corp now owns 98,717 shares of the company’s stock valued at $810,000 after purchasing an additional 2,042 shares in the last quarter. FMR LLC lifted its holdings in NeuroPace by 0.8% in the 2nd quarter. FMR LLC now owns 1,418,951 shares of the company’s stock valued at $7,024,000 after purchasing an additional 11,645 shares in the last quarter. Renaissance Technologies LLC purchased a new position in NeuroPace in the 2nd quarter valued at about $63,000. Finally, Millennium Management LLC lifted its holdings in NeuroPace by 19.8% in the 2nd quarter. Millennium Management LLC now owns 506,905 shares of the company’s stock valued at $2,509,000 after purchasing an additional 83,877 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

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.