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

Key Points

• Mobia Medical currently has a consensus analyst rating of “Moderate Buy” from six brokerages, with five buy ratings and one hold. The average 12-month price target is $20.25.
• Several major firms recently initiated or updated coverage, including Goldman Sachs with a $31 price target, Bank of America at $16, BTIG at $19, and JPMorgan at $15. Zacks Research was the lone firm to rate it Hold.
• Insider buying has been notable, with directors including Casey M. Tansey and Dana G. Jr. Mead purchasing shares at $15 each. In the last quarter, insiders bought 1.27 million shares worth about $19.1 million.

Mobia Medical, Inc. (NASDAQ:MOBI - Get Free Report) has received an average recommendation of "Moderate Buy" from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $20.25.

Several equities analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Mobia Medical in a research report on Tuesday, June 2nd. They set a "buy" rating and a $31.00 price objective on the stock. Bank of America started coverage on Mobia Medical in a research report on Tuesday, June 2nd. They set a "buy" rating and a $16.00 price target on the stock. BTIG Research assumed coverage on Mobia Medical in a research report on Tuesday, June 2nd. They set a "buy" rating and a $19.00 price objective for the company. Zacks Research raised Mobia Medical to a "hold" rating in a research note on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Mobia Medical in a research report on Tuesday, June 2nd. They issued an "overweight" rating and a $15.00 price target for the company.

Insider Transactions at Mobia Medical

In related news, Director Casey M. Tansey acquired 66,666 shares of the company's stock in a transaction on Monday, May 11th. The shares were purchased at an average price of $15.00 per share, for a total transaction of $999,990.00. Following the purchase, the director owned 233,332 shares in the company, valued at $3,499,980. This represents a 40.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dana G. Jr. Mead purchased 7,000 shares of the stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $15.00 per share, for a total transaction of $105,000.00. Following the completion of the acquisition, the director owned 7,000 shares in the company, valued at $105,000. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 1,273,332 shares of company stock worth $19,088,930.

Mobia Medical Price Performance

Shares of MOBI opened at $11.99 on Wednesday. Mobia Medical has a 1-year low of $10.19 and a 1-year high of $15.29. The business has a 50-day moving average of $12.91. The stock has a market cap of $398.66 million, a PE ratio of -0.62 and a beta of 2.84.

Mobia Medical (NASDAQ:MOBI - Get Free Report) last released its quarterly earnings results on Thursday, June 4th. The company reported ($19.30) earnings per share (EPS) for the quarter. The firm had revenue of $12.07 million for the quarter.

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