Insider Selling: NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Sells 2,623 Shares of Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 2,623 shares of NeuroPace stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $14.06, for a total transaction of $36,879.38. Following the sale, the insider now owns 3,501,975 shares in the company, valued at $49,237,768.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock 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 stock was 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 Performance

NASDAQ:NPCE traded up $0.25 during mid-day trading on Thursday, reaching $14.00. 65,350 shares of the company’s stock were exchanged, compared to its average volume of 106,465. NeuroPace, Inc. has a one year low of $3.80 and a one year high of $18.15. The firm has a market capitalization of $367.92 million, a PE ratio of -10.94 and a beta of 2.08. The business’s fifty day simple moving average is $14.59 and its two-hundred day simple moving average is $11.34. 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) EPS for the quarter, topping analysts’ consensus estimates 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. Analysts anticipate that NeuroPace, Inc. will post -1.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NeuroPace

Hedge funds have recently bought and sold shares of the business. Nantahala Capital Management LLC increased its holdings in NeuroPace by 58.6% in the 1st quarter. Nantahala Capital Management LLC now owns 485,303 shares of the company’s stock valued at $3,984,000 after buying an additional 179,397 shares during the period. State Street Corp increased 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 buying an additional 2,042 shares during the period. FMR LLC increased 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 buying an additional 11,645 shares during the period. Renaissance Technologies LLC bought a new position in NeuroPace in the 2nd quarter valued at about $63,000. Finally, Millennium Management LLC increased 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 buying an additional 83,877 shares during the period. 78.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NPCE shares. SVB Leerink started coverage on shares of NeuroPace in a research report on Tuesday, January 30th. They set an “outperform” rating and a $22.00 price objective for the company. Lake Street Capital reiterated a “buy” rating and issued a $12.00 price target on shares of NeuroPace in a research note on Wednesday, December 27th. Morgan Stanley increased their price target on shares of NeuroPace from $9.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 6th. Cantor Fitzgerald increased their price objective on shares of NeuroPace from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Finally, Wells Fargo & Company raised shares of NeuroPace from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $16.00 to $20.00 in a research report on Thursday, March 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to 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.