Mobia Medical, Inc. (NASDAQ:MOBI) Short Interest Down 65.8% in July

Key Points

• Short interest fell 65.8% to 422,393 shares as of July 15, representing about 1.3% of MOBI’s outstanding shares and 3.4 days to cover.
• Insiders made substantial purchases, including 5,000 shares bought by the CFO and 7,000 shares by a director; insiders acquired 1.27 million shares worth approximately $19.1 million over the last quarter.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $20.25, versus the stock’s recent price of $10.99. The company reported quarterly revenue of $12.07 million and a loss of $19.30 per share.

Mobia Medical, Inc. (NASDAQ:MOBI - Get Free Report) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 422,393 shares, a decrease of 65.8% from the June 30th total of 1,234,096 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average trading volume of 123,091 shares, the days-to-cover ratio is presently 3.4 days.

Insider Buying and Selling

In related news, CFO Nelson Bunker Curnes bought 5,000 shares of the firm's stock in a transaction on Tuesday, June 9th. The shares were purchased at an average price of $12.79 per share, with a total value of $63,950.00. Following the completion of the purchase, the chief financial officer owned 366,997 shares in the company, valued at $4,693,891.63. This represents a 1.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available 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, with a total value of $105,000.00. Following the completion of the acquisition, the director directly owned 7,000 shares of the company's stock, valued at approximately $105,000. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 1,273,332 shares of company stock worth $19,088,930 in the last quarter.

Mobia Medical Stock Up 1.3%

Shares of MOBI traded up $0.14 during trading hours on Monday, hitting $10.99. 5,595 shares of the stock were exchanged, compared to its average volume of 157,925. Mobia Medical has a fifty-two week low of $10.19 and a fifty-two week high of $15.29. The business's 50-day simple moving average is $12.84. The company has a market capitalization of $365.41 million, a price-to-earnings ratio of -0.57 and a beta of 2.84.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MOBI. The Goldman Sachs Group began coverage on Mobia Medical in a report on Tuesday, June 2nd. They set a "buy" rating and a $31.00 price target on the stock. Zacks Research upgraded shares of Mobia Medical to a "hold" rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. started 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. BTIG Research assumed coverage on shares of Mobia Medical in a research note on Tuesday, June 2nd. They set a "buy" rating and a $19.00 price target for the company. Finally, Bank of America started coverage on shares of Mobia Medical in a research note on Tuesday, June 2nd. They issued a "buy" rating and a $16.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Mobia Medical presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

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