Insider Buying: Mobia Medical (NASDAQ:MOBI) Director Purchases 17,166 Shares of Stock

Key Points

• Director Casey Tansey purchased 17,166 Mobia Medical shares at an average price of $11.85, investing approximately $203,417 and increasing their stake by 6.03% to 301,891 shares.
• Mobia Medical shares dipped 0.2% to $11.74, while the company reported quarterly revenue of $13.51 million, up 102.4% year over year, but missed earnings expectations with a loss of $1.10 per share.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $20.75; recent targets include $19 from BTIG and $17 from JPMorgan.

Mobia Medical, Inc. (NASDAQ:MOBI - Get Free Report) Director Casey Tansey bought 17,166 shares of the stock in a transaction on Monday, August 17th. The stock was bought at an average price of $11.85 per share, for a total transaction of $203,417.10. Following the completion of the purchase, the director directly owned 301,891 shares in the company, valued at approximately $3,577,408.35. The trade was a 6.03% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Mobia Medical Trading Down 0.2%

Shares of Mobia Medical stock traded down $0.02 during trading hours on Monday, hitting $11.74. 98,126 shares of the company were exchanged, compared to its average volume of 92,796. Mobia Medical, Inc. has a 1 year low of $10.19 and a 1 year high of $15.29. The company has a quick ratio of 12.80, a current ratio of 13.28 and a debt-to-equity ratio of 0.04. The firm has a 50-day simple moving average of $12.42. The firm has a market capitalization of $390.82 million and a PE ratio of -0.61.

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% on a year-over-year basis. As a group, research analysts anticipate that Mobia Medical, Inc. will post -2.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MOBI has been the topic of a number of analyst reports. Wall Street Zen raised Mobia Medical from a "sell" rating to a "hold" rating in a report on Sunday, June 14th. BTIG Research reissued a "buy" rating and issued a $19.00 price target on shares of Mobia Medical in a report on Wednesday, August 12th. Wolfe Research initiated coverage on Mobia Medical in a report on Tuesday, June 2nd. They set an "outperform" rating on the stock. JPMorgan Chase & Co. upped their price objective on Mobia Medical from $15.00 to $17.00 and gave the stock an "overweight" rating in a report on Wednesday, August 12th. Finally, Bank of America initiated coverage on Mobia Medical in a research report on Tuesday, June 2nd. They issued a "buy" rating and a $16.00 price objective for the company. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $20.75.

About Mobia Medical

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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