Mobia Medical, Inc. (NASDAQ:MOBI) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Mobia Medical has a “Moderate Buy” consensus rating from seven analysts: five buys, one hold, and one sell. The average 12-month price target is $20.75.
• Insider buying has increased, with director Casey Tansey purchasing 16,441 shares for about $198,443; insiders have bought roughly 85,000 shares worth $995,767 over the past 90 days. Readystate Asset Management also initiated a 10,000-share position.
• MOBI shares opened at $10.82, near the lower end of their 52-week range, after the company reported a quarterly loss of $1.10 per share versus an expected $0.83 loss. Revenue rose 102.4% year over year to $13.51 million.

Mobia Medical, Inc. (NASDAQ:MOBI - Get Free Report) has earned an average rating of "Moderate Buy" from the seven analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $20.75.

Several brokerages have recently issued reports on MOBI. BTIG Research reiterated a "buy" rating and set a $19.00 price target on shares of Mobia Medical in a research report on Wednesday, August 12th. Wolfe Research initiated coverage on Mobia Medical in a research note on Tuesday, June 2nd. They set an "outperform" rating for the company. Bank of America started coverage on Mobia Medical in a report on Tuesday, June 2nd. They set a "buy" rating and a $16.00 target price on the stock. Weiss Ratings began coverage on shares of Mobia Medical in a report on Wednesday, August 12th. They issued a "sell (e-)" rating for the company. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Mobia Medical from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th.

Insiders Place Their Bets

In other Mobia Medical news, Director Casey Tansey purchased 16,441 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were purchased at an average price of $12.07 per share, for a total transaction of $198,442.87. Following the completion of the transaction, the director owned 318,332 shares in the company, valued at $3,842,267.24. This represents a 5.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 85,000 shares of company stock worth $995,767 in the last ninety days.

Hedge Funds Weigh In On Mobia Medical

A hedge fund recently bought a new stake in Mobia Medical stock. Readystate Asset Management LP bought a new stake in shares of Mobia Medical, Inc. (NASDAQ:MOBI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 10,000 shares of the company's stock, valued at approximately $134,000.

Mobia Medical Trading Down 2.4%

Shares of NASDAQ:MOBI opened at $10.82 on Thursday. The stock has a 50 day moving average of $11.72. The company has a current ratio of 13.28, a quick ratio of 12.80 and a debt-to-equity ratio of 0.04. The firm has a market cap of $360.20 million and a price-to-earnings ratio of -0.54. Mobia Medical has a twelve month low of $10.19 and a twelve month high of $15.29.

Mobia Medical (NASDAQ:MOBI - Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.83) by ($0.27). The company had revenue of $13.51 million during the quarter. The company's quarterly revenue was up 102.4% compared to the same quarter last year. Equities research analysts forecast that Mobia Medical will post -2.63 EPS for the current year.

Mobia Medical Company Profile

Mobia Medical Inc is a commercial-stage medical device company redefining stroke recovery for survivors living with life-altering motor impairments. Mobia Medical Inc is based in AUSTIN, Texas.

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