NeuroPace, Inc. (NASDAQ:NPCE) Major Shareholder Sells $6,692,916.51 in Stock

NeuroPace, Inc. (NASDAQ:NPCE) major shareholder Orbimed Advisors Llc sold 461,899 shares of NeuroPace stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $14.49, for a total value of $6,692,916.51. Following the completion of the transaction, the insider now directly owns 3,542,068 shares in the company, valued at $51,324,565.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

NeuroPace Stock Performance

NASDAQ NPCE opened at $13.75 on Thursday. The stock has a market cap of $361.41 million, a P/E ratio of -10.74 and a beta of 2.08. The company has a quick ratio of 5.02, a current ratio of 5.71 and a debt-to-equity ratio of 2.76. NeuroPace, Inc. has a twelve month low of $3.80 and a twelve month high of $18.15. The company’s 50-day simple moving average is $14.59 and its 200 day simple moving average is $11.34.

NeuroPace (NASDAQ:NPCE) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.23) earnings per share for the quarter, beating 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 return on equity of 153.76% and a negative net margin of 50.38%. As a group, research analysts forecast that NeuroPace, Inc. will post -1.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NPCE has been the topic of a number of research reports. Wells Fargo & Company raised shares of NeuroPace from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $16.00 to $20.00 in a research report on Thursday, March 14th. Cantor Fitzgerald upped 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. Morgan Stanley increased 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. Leerink Partnrs restated an “outperform” rating on shares of NeuroPace in a research note on Tuesday, January 30th. Finally, Lake Street Capital reiterated a “buy” rating and issued a $12.00 price objective on shares of NeuroPace in a research report on Wednesday, December 27th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, NeuroPace currently has an average rating of “Moderate Buy” and a consensus target price of $15.67.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Kent Lake Capital LLC grew its holdings in shares of NeuroPace by 285.0% in the 3rd quarter. Kent Lake Capital LLC now owns 574,417 shares of the company’s stock worth $5,589,000 after purchasing an additional 425,212 shares during the last quarter. Nantahala Capital Management LLC increased its holdings in shares of NeuroPace by 58.6% during the first 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. EAM Investors LLC acquired a new position in NeuroPace during the 3rd quarter worth about $1,378,000. Millennium Management LLC lifted its position in shares of NeuroPace by 18.2% during the fourth quarter. Millennium Management LLC now owns 691,899 shares of the company’s stock worth $1,031,000 after purchasing an additional 106,532 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of NeuroPace by 3.1% in the 4th quarter. Morgan Stanley now owns 2,188,593 shares of the company’s stock valued at $3,261,000 after buying an additional 64,990 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.