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 the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $14.05, for a total transaction of $345,756.45. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Large 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 transaction 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 transaction 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 transaction of $6,692,916.51.

NeuroPace Price Performance

Shares of NASDAQ NPCE traded up $0.01 during trading on Tuesday, hitting $14.01. 152,876 shares of the company were exchanged, compared to its average volume of 107,182. The company has a market cap of $368.18 million, a price-to-earnings ratio of -10.95 and a beta of 2.09. NeuroPace, Inc. has a 1 year low of $3.80 and a 1 year high of $18.15. The firm’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 earnings results on Tuesday, March 5th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.10. The company had revenue of $18.01 million for the quarter, compared to analyst estimates of $17.74 million. NeuroPace had a negative net margin of 50.38% and a negative return on equity of 153.76%. On average, sell-side analysts expect that NeuroPace, Inc. will post -1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NeuroPace

Several institutional investors have recently made changes to their positions in NPCE. Citigroup Inc. purchased a new stake in shares of NeuroPace in the 3rd quarter worth about $29,000. Barclays PLC raised its stake in NeuroPace by 9,085.6% in the 3rd quarter. Barclays PLC now owns 10,839 shares of the company’s stock valued at $105,000 after purchasing an additional 10,721 shares during the last quarter. EAM Investors LLC acquired a new position in NeuroPace in the 3rd quarter valued at about $1,378,000. Finally, Kent Lake Capital LLC raised its stake in NeuroPace by 285.0% in the 3rd 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 last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NPCE shares. Morgan Stanley lifted their target price on shares of NeuroPace from $9.00 to $13.00 and gave the company an “equal weight” rating in a report on Wednesday, March 6th. Lake Street Capital reaffirmed a “buy” rating and issued a $12.00 target price on shares of NeuroPace in a report on Wednesday, December 27th. Cantor Fitzgerald lifted their target price on shares of NeuroPace from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Leerink Partnrs reiterated an “outperform” rating on shares of NeuroPace in a research report on Tuesday, January 30th. Finally, SVB Leerink initiated coverage on shares of NeuroPace in a research report on Tuesday, January 30th. They issued an “outperform” rating and a $22.00 price objective on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.67.

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.