Mobia Medical, Inc. (NASDAQ:MOBI) Sees Significant Growth in Short Interest

Key Points

• Short interest surged 130.7% to 1,083,787 shares as of September 30, representing 3.3% of Mobia Medical’s outstanding shares and 2.8 days of average trading volume.
• Mobia Medical reported quarterly revenue of $13.51 million, up 102.4% year over year, but its $1.10 loss per share missed the $0.83 consensus estimate. Shares opened at $8.60, near the company’s 52-week low of $8.29.
• Analyst sentiment remains mixed but leans positive, with a “Moderate Buy” consensus and an average price target of $20.75; insiders also purchased 87,000 shares worth about $1.02 million over the past 90 days.

Mobia Medical, Inc. (NASDAQ:MOBI - Get Free Report) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 1,083,787 shares, an increase of 130.7% from the September 15th total of 469,701 shares. Currently, 3.3% of the shares of the stock are sold short. Based on an average trading volume of 381,101 shares, the short-interest ratio is currently 2.8 days.

Mobia Medical Stock Down 0.3%

Shares of MOBI opened at $8.60 on Tuesday. The company has a 50 day simple moving average of $10.59. The company has a debt-to-equity ratio of 0.04, a current ratio of 13.28 and a quick ratio of 12.80. The firm has a market capitalization of $286.29 million and a P/E ratio of -0.43. Mobia Medical has a 52-week low of $8.29 and a 52-week high of $15.29.

Mobia Medical (NASDAQ:MOBI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.27). The firm had revenue of $13.51 million for the quarter. The company's revenue was up 102.4% on a year-over-year basis. On average, equities analysts anticipate that Mobia Medical will post -2.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on MOBI. Weiss Ratings began coverage on Mobia Medical in a research report on Wednesday, August 12th. They issued a "sell (e-)" rating on the stock. BTIG Research restated a "buy" rating and set a $19.00 price target on shares of Mobia Medical in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. increased their target price on Mobia Medical from $15.00 to $17.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 12th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.75.

Insider Activity

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

Hedge Funds Weigh In On Mobia Medical

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp acquired a new position in shares of Mobia Medical during the second quarter worth about $735,000. Citadel Advisors LLC purchased a new stake in shares of Mobia Medical during the 2nd quarter worth $670,000. Finally, Readystate Asset Management LP purchased a new stake in shares of Mobia Medical during the 2nd quarter worth $134,000.

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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