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

NeuroPace, Inc. (NASDAQ:NPCE - Get Free Report) major shareholder Orbimed Advisors Llc sold 2,623 shares of NeuroPace stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $14.06, for a total value of $36,879.38. Following the sale, the insider now directly owns 3,501,975 shares of the company's stock, valued at approximately $49,237,768.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 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 Price Performance

Shares of NeuroPace stock traded up $0.25 on Thursday, hitting $14.00. The company's stock had a trading volume of 65,350 shares, compared to its average volume of 106,465. 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 1 year low of $3.80 and a 1 year high of $18.15. The firm has a fifty day moving average price of $14.59 and a 200-day moving average price of $11.34. The company has a market capitalization of $367.92 million, a price-to-earnings ratio of -10.94 and a beta of 2.08.

NeuroPace (NASDAQ:NPCE - Get Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate 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. As a group, sell-side analysts anticipate that NeuroPace, Inc. will post -1.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on NPCE. Cantor Fitzgerald boosted their price objective on NeuroPace from $16.00 to $18.00 and gave the company an "overweight" rating in a report on Wednesday, March 6th. Lake Street Capital reissued a "buy" rating and issued a $12.00 price objective on shares of NeuroPace in a report on Wednesday, December 27th. SVB Leerink began coverage on NeuroPace in a report on Tuesday, January 30th. They issued an "outperform" rating and a $22.00 price objective for the company. Leerink Partnrs reissued an "outperform" rating on shares of NeuroPace in a report on Tuesday, January 30th. Finally, Morgan Stanley lifted their price target on NeuroPace from $9.00 to $13.00 and gave the company an "equal weight" rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $15.67.

Institutional Investors Weigh In On NeuroPace

Several large investors have recently bought and sold shares of NPCE. Nantahala Capital Management LLC increased its stake in NeuroPace by 58.6% during the 1st quarter. Nantahala Capital Management LLC now owns 485,303 shares of the company's stock worth $3,984,000 after buying an additional 179,397 shares in 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 buying an additional 2,042 shares in the last quarter. FMR LLC boosted its holdings in shares of 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 during the last quarter. Renaissance Technologies LLC acquired a new position in shares of NeuroPace during the 2nd quarter worth approximately $63,000. Finally, Millennium Management LLC boosted its holdings in shares of 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 during the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

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.

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