Orbimed Advisors Llc Sells 461,899 Shares of NeuroPace, Inc. (NASDAQ:NPCE) Stock

NeuroPace, Inc. (NASDAQ:NPCE - Get Free Report) major shareholder Orbimed Advisors Llc sold 461,899 shares of the business's stock in a transaction on Thursday, April 11th. The shares were sold at an average price of $14.49, for a total transaction of $6,692,916.51. Following the completion of the sale, the insider now owns 3,542,068 shares in the company, valued at approximately $51,324,565.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

NeuroPace Trading Down 0.7 %

NeuroPace stock traded down $0.10 during trading hours on Monday, reaching $13.40. 87,894 shares of the company's stock traded hands, compared to its average volume of 108,043. 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, Inc. has a fifty-two week low of $3.80 and a fifty-two week high of $18.15. The firm has a market capitalization of $352.15 million, a price-to-earnings ratio of -10.47 and a beta of 2.09. The firm's 50 day moving average is $14.68 and its 200-day moving average is $11.30.

NeuroPace (NASDAQ:NPCE - Get Free Report) last released its earnings results on Tuesday, March 5th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating 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 company had revenue of $18.01 million for the quarter, compared to the consensus estimate of $17.74 million. On average, analysts predict that NeuroPace, Inc. will post -1.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Nantahala Capital Management LLC increased its stake in shares of 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 acquiring an additional 179,397 shares during the last quarter. State Street Corp increased its stake in NeuroPace by 2.1% during the 1st quarter. State Street Corp now owns 98,717 shares of the company's stock worth $810,000 after purchasing an additional 2,042 shares in the last quarter. FMR LLC increased its stake in NeuroPace by 0.8% during the 2nd quarter. FMR LLC now owns 1,418,951 shares of the company's stock worth $7,024,000 after purchasing an additional 11,645 shares in the last quarter. Renaissance Technologies LLC bought a new stake in NeuroPace during the 2nd quarter worth approximately $63,000. Finally, Millennium Management LLC increased its stake in NeuroPace by 19.8% during the 2nd quarter. Millennium Management LLC now owns 506,905 shares of the company's stock worth $2,509,000 after purchasing an additional 83,877 shares in the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on NPCE. Morgan Stanley boosted their target price 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. Wells Fargo & Company upgraded shares of NeuroPace from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $16.00 to $20.00 in a research report on Thursday, March 14th. Lake Street Capital reiterated a "buy" rating and set a $12.00 price target on shares of NeuroPace in a research report on Wednesday, December 27th. Cantor Fitzgerald upped 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. Finally, Leerink Partnrs reiterated an "outperform" rating on shares of NeuroPace in a research report on Tuesday, January 30th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average 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.