NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Sells $2,664,955.60 in Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 168,136 shares of NeuroPace stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $15.85, for a total transaction of $2,664,955.60. Following the sale, the insider now owns 3,238,199 shares in the company, valued at $51,325,454.15. This represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

NeuroPace Trading Up 2.4%

NASDAQ NPCE opened at $17.49 on Friday. The company has a debt-to-equity ratio of 6.03, a quick ratio of 4.77 and a current ratio of 5.59. The firm has a market cap of $572.85 million, a PE ratio of -17.49 and a beta of 2.04. NeuroPace, Inc. has a one year low of $5.45 and a one year high of $17.85. The firm’s fifty day moving average is $11.97 and its two-hundred day moving average is $11.59.

NeuroPace (NASDAQ:NPCE) last issued its earnings results on Tuesday, May 13th. The company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.05. The business had revenue of $22.52 million for the quarter, compared to the consensus estimate of $21.85 million. NeuroPace had a negative net margin of 36.74% and a negative return on equity of 205.41%. Analysts expect that NeuroPace, Inc. will post -1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on NPCE. Cantor Fitzgerald reiterated an “overweight” rating and set a $17.00 price target on shares of NeuroPace in a research note on Wednesday. Wells Fargo & Company lifted their price objective on shares of NeuroPace from $13.00 to $17.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. UBS Group initiated coverage on shares of NeuroPace in a research note on Tuesday, January 21st. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of NeuroPace from $14.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.00.

Institutional Trading of NeuroPace

Several hedge funds and other institutional investors have recently made changes to their positions in the company. KCK LTD. purchased a new stake in shares of NeuroPace in the fourth quarter valued at about $58,981,000. First Light Asset Management LLC purchased a new stake in shares of NeuroPace in the first quarter valued at about $19,468,000. Armistice Capital LLC boosted its holdings in shares of NeuroPace by 94.7% in the first quarter. Armistice Capital LLC now owns 1,153,614 shares of the company’s stock valued at $14,178,000 after acquiring an additional 561,000 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of NeuroPace by 124.0% in the first quarter. Deutsche Bank AG now owns 924,274 shares of the company’s stock valued at $11,359,000 after acquiring an additional 511,662 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in NeuroPace during the first quarter worth about $9,874,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

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.