Insider Selling: NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Sells 24,609 Shares of Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 24,609 shares of NeuroPace stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $14.05, for a total value of $345,756.45. Following the transaction, the insider now directly owns 3,459,113 shares in the company, valued at approximately $48,600,537.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Thursday, April 18th, Orbimed Advisors Llc sold 2,623 shares of NeuroPace stock. The shares were sold at an average price of $14.06, for a total value of $36,879.38.
• 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 value of $197,106.69.
• On Thursday, April 11th, Orbimed Advisors Llc sold 461,899 shares of NeuroPace stock. The shares were sold at an average price of $14.49, for a total value of $6,692,916.51.

NeuroPace Stock Performance

NPCE traded up $0.01 on Tuesday, hitting $14.01. The company had a trading volume of 152,876 shares, compared to its average volume of 107,182. NeuroPace, Inc. has a 1-year low of $3.80 and a 1-year high of $18.15. The stock has a market cap of $368.18 million, a price-to-earnings ratio of -10.95 and a beta of 2.09. The company’s fifty day moving average price is $14.41 and its 200 day moving average price is $11.52. The company has a debt-to-equity ratio of 2.76, a current ratio of 5.71 and a quick ratio of 5.02.

NeuroPace (NASDAQ:NPCE) last issued 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 return on equity of 153.76% and a negative net margin of 50.38%. The company had revenue of $18.01 million during the quarter, compared to analyst estimates of $17.74 million. Equities analysts predict that NeuroPace, Inc. will post -1.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Citigroup Inc. acquired a new position in shares of NeuroPace during the third quarter worth approximately $29,000. Barclays PLC lifted its holdings in shares of NeuroPace by 9,085.6% during the third quarter. Barclays PLC now owns 10,839 shares of the company’s stock worth $105,000 after buying an additional 10,721 shares during the last quarter. EAM Investors LLC bought a new stake in shares of NeuroPace during the third quarter valued at approximately $1,378,000. Finally, Kent Lake Capital LLC increased its position in shares of NeuroPace by 285.0% during the third quarter. Kent Lake Capital LLC now owns 574,417 shares of the company’s stock valued at $5,589,000 after purchasing an additional 425,212 shares during the period. 78.83% of the stock is currently owned by institutional investors and hedge funds.

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.