OrbiMed Advisors LLC, a significant shareholder in NeuroPace Inc (NASDAQ:NPCE), has recently sold shares in the medical device company. According to the latest regulatory filings, the investment firm offloaded NeuroPace stock on multiple occasions, with transactions totaling over $238,000.
The sales occurred between April 16 and April 18, with prices ranging from $14.01 to $14.15 per share. On April 16, OrbiMed Advisors sold 14,069 shares at $14.01 each. The following day, an additional 300 shares were sold at $14.15 per share, and on April 18, 2,623 shares were sold at $14.06 each.
After the reported transactions, OrbiMed Advisors still holds a substantial number of NeuroPace shares. The sales made by OrbiMed Advisors are part of the normal course of investment management activities on behalf of their clients.
Investors often monitor the buying and selling activity of large shareholders such as OrbiMed Advisors for insights into the sentiment surrounding a stock. NeuroPace Inc specializes in surgical and medical instruments and apparatus, and its stock is publicly traded on the NASDAQ exchange.
The disclosed transactions were made by OrbiMed Private Investments VI, LP, with OrbiMed Capital GP VI LLC serving as the general partner. OrbiMed Advisors LLC, as the managing member of the general partner, exercises voting and investment power through a management committee. It should be noted that the individuals on the management committee disclaim beneficial ownership of the shares held, except to the extent of their pecuniary interest.
The reported transactions provide a snapshot of OrbiMed Advisors' recent investment moves and offer data that investors can use to inform their own investment decisions regarding NeuroPace Inc.
InvestingPro Insights
As NeuroPace Inc (NASDAQ:NPCE) experiences shifts in its shareholder structure, with OrbiMed Advisors LLC adjusting its stake, real-time data and insights from InvestingPro provide a clearer picture of the company's financial health and market performance. NeuroPace, known for its medical devices, has been under the investor's microscope, with its stock price movements reflecting the dynamic nature of the market.
An InvestingPro Tip suggests that analysts have recently revised their earnings expectations upwards for the upcoming period, indicating potential optimism about the company's future performance. Furthermore, the company's stock price has seen a large uptick over the last six months, with a staggering 123.58% total return, highlighting its volatility and the significant interest from investors.
InvestingPro Data reveals that NeuroPace has a market capitalization of $396.82M and is currently trading at a high Price / Book multiple of 19.21, as of the last twelve months ending Q4 2023. Additionally, despite a notable revenue growth of 43.72% during the same period, the company operates with a negative P/E ratio of -12.14, underscoring that analysts do not anticipate profitability this year.
While NeuroPace does not pay a dividend to shareholders, the company's liquid assets exceed short-term obligations, which could be a reassuring sign for investors concerned about financial stability. With a moderate level of debt, the financial structure of NeuroPace warrants attention from those assessing the company's long-term viability.
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