Orbimed Advisors LLC Trims Position in NeuroPace, Inc. $NPCE

Orbimed Advisors LLC lessened its holdings in shares of NeuroPace, Inc. (NASDAQ:NPCE) by 12.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,096,527 shares of the company’s stock after selling 309,808 shares during the quarter. Orbimed Advisors LLC owned approximately 0.06% of NeuroPace worth $27,569,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Engineers Gate Manager LP boosted its holdings in NeuroPace by 33.6% in the second quarter. Engineers Gate Manager LP now owns 13,609 shares of the company’s stock valued at $152,000 after acquiring an additional 3,420 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in NeuroPace by 60.7% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,160 shares of the company’s stock valued at $147,000 after purchasing an additional 4,972 shares during the period. New York State Common Retirement Fund raised its holdings in NeuroPace by 755.6% in the 4th quarter. New York State Common Retirement Fund now owns 7,700 shares of the company’s stock worth $119,000 after purchasing an additional 6,800 shares in the last quarter. Quarry LP raised its holdings in NeuroPace by 94.9% in the 3rd quarter. Quarry LP now owns 3,845 shares of the company’s stock worth $40,000 after purchasing an additional 1,872 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in NeuroPace in the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NPCE shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NeuroPace in a research report on Wednesday, June 24th. HC Wainwright boosted their price target on shares of NeuroPace from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Mizuho started coverage on shares of NeuroPace in a research note on Thursday. They issued an “outperform” rating and a $22.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

NeuroPace Stock Performance

NASDAQ NPCE opened at $14.81 on Monday. The company has a quick ratio of 4.35, a current ratio of 5.38 and a debt-to-equity ratio of 4.08. NeuroPace, Inc. has a twelve month low of $7.56 and a twelve month high of $19.60. The firm has a market capitalization of $504.87 million, a PE ratio of -22.78 and a beta of 1.88. The stock’s 50 day moving average is $16.12 and its 200 day moving average is $15.62.

NeuroPace (NASDAQ:NPCE) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. The company had revenue of $22.00 million for the quarter, compared to analysts’ expectations of $21.65 million. NeuroPace had a negative return on equity of 108.20% and a negative net margin of 21.67%. Research analysts forecast that NeuroPace, Inc. will post -0.54 earnings per share for the current fiscal year.

NeuroPace Company Profile

NeuroPace, Inc is a medical device company based in Mountain View, California, that develops innovative neuromodulation systems for the treatment of neurological disorders. Founded in the late 1990s out of research at Stanford University, the company’s mission centers on delivering closed-loop, “smart” therapies that monitor and respond to electrical activity in the brain. In 2020, NeuroPace completed its initial public offering and now trades on the NASDAQ under the ticker NPCE.

The company’s flagship product, the RNS® System, is an implantable device designed for adults with medically refractory focal epilepsy.