Mobia Medical, Inc. (NASDAQ:MOBI) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analyst sentiment is moderately bullish: Seven brokerages rate Mobia Medical an average “Moderate Buy,” with five buys, one hold and one sell. The average 12-month price target is $20.75, above the stock’s reported $9.18 opening price.
• Quarterly results missed expectations despite strong growth: Mobia Medical reported an adjusted loss of $1.10 per share versus the $0.83 consensus estimate, while revenue rose 102.4% year over year to $13.51 million.
• Insider and institutional activity has been positive: Insiders bought 87,000 shares worth about $1.02 million over the past 90 days, while State Street, Citadel Advisors and Readystate Asset Management established new positions during the second quarter.

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

A number of research firms have recently commented on MOBI. JPMorgan Chase & Co. upped their target price on Mobia Medical from $15.00 to $17.00 and gave the company an "overweight" rating in a research note on Wednesday, August 12th. Wall Street Zen raised Mobia Medical from a "sell" rating to a "hold" rating in a research note on Sunday, June 14th. BTIG Research restated a "buy" rating and set a $19.00 price objective on shares of Mobia Medical in a report on Wednesday, August 12th. Finally, Weiss Ratings assumed coverage on Mobia Medical in a research report on Wednesday, August 12th. They issued a "sell (e-)" rating on the stock.

Mobia Medical Stock Performance

MOBI stock opened at $9.18 on Monday. The stock has a market cap of $305.60 million and a PE ratio of -0.45. Mobia Medical has a 12 month low of $8.45 and a 12 month high of $15.29. The business's 50-day moving average price is $10.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 12.80 and a current ratio of 13.28.

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

Insider Buying and Selling at Mobia Medical

In related news, Director Casey Tansey bought 16,441 shares of the stock in a transaction dated Tuesday, August 18th. The stock was purchased at an average cost of $12.07 per share, with a total value of $198,442.87. Following the completion of the purchase, the director owned 318,332 shares of the company's stock, valued at $3,842,267.24. This trade represents a 5.45% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders acquired 87,000 shares of company stock worth $1,016,367 in the last ninety days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. State Street Corp bought a new stake in Mobia Medical during the 2nd quarter valued at about $735,000. Citadel Advisors LLC purchased a new stake in Mobia Medical in the 2nd quarter valued at about $670,000. Finally, Readystate Asset Management LP bought a new position in Mobia Medical in the 2nd quarter worth about $134,000.

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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