NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Sells $36,879.38 in Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 2,623 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $14.06, for a total transaction of $36,879.38. Following the completion of the sale, the insider now directly owns 3,501,975 shares in the company, valued at $49,237,768.50. 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 sales and purchases with the SEC.

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

• 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 transaction of $197,106.69.
• On Thursday, April 11th, Orbimed Advisors Llc sold 461,899 shares of NeuroPace stock. The stock was sold at an average price of $14.49, for a total transaction of $6,692,916.51.

NeuroPace Stock Down 0.1 %

NeuroPace stock opened at $13.98 on Friday. The company’s 50-day moving average is $14.48 and its 200-day moving average is $11.42. NeuroPace, Inc. has a fifty-two week low of $3.80 and a fifty-two 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.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate 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%. On average, analysts anticipate that NeuroPace, Inc. will post -1.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Citigroup Inc. bought a new position in NeuroPace in the 3rd quarter valued at about $29,000. Virtu Financial LLC bought a new position in NeuroPace in the 4th quarter valued at about $111,000. Barclays PLC raised its holdings in NeuroPace by 9,085.6% in the 3rd quarter. Barclays PLC now owns 10,839 shares of the company’s stock valued at $105,000 after acquiring an additional 10,721 shares during the period. Renaissance Technologies LLC bought a new position in NeuroPace in the 2nd quarter valued at about $63,000. Finally, Susquehanna International Group LLP bought a new position in shares of NeuroPace during the first quarter worth approximately $65,000. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NPCE has been the topic of several analyst reports. SVB Leerink initiated coverage on shares of NeuroPace in a research report on Tuesday, January 30th. They set an “outperform” rating and a $22.00 price target on the stock. Leerink Partnrs reissued an “outperform” rating on shares of NeuroPace in a research report on Tuesday, January 30th. Cantor Fitzgerald boosted their price target on shares of NeuroPace from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Lake Street Capital reissued a “buy” rating and set a $12.00 price target on shares of NeuroPace in a research report on Wednesday, December 27th. Finally, 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 report 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.