Mobia Medical (NASDAQ:MOBI) Stock Price Breaks Below 50-Day Moving Average - Time to Sell?

Key Points

• MOBI slipped below its 50-day moving average, trading at $9.97 versus the average of $9.98, after touching an intraday low of $9.95.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $20.75; recent targets include $19 from BTIG and $17 from JPMorgan.
• The company’s latest quarterly loss per share was wider than expected ($1.10 versus $0.83), although revenue rose 102.4% year over year to $13.51 million. Insiders also bought 87,000 shares in the past 90 days.

Mobia Medical, Inc. (NASDAQ:MOBI - Get Free Report)'s share price passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $9.98 and traded as low as $9.95. Mobia Medical shares last traded at $9.97, with a volume of 277,263 shares.

Analysts Set New Price Targets

Several brokerages have commented on MOBI. BTIG Research reissued a "buy" rating and issued a $19.00 price target on shares of Mobia Medical in a research report on Tuesday, October 20th. 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 research report on Wednesday, August 12th. Finally, Weiss Ratings began coverage on Mobia Medical in a research report on Wednesday, August 12th. They set a "sell (e-)" rating on the stock. Five investment 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.75.

Mobia Medical Stock Performance

The company has a current ratio of 13.28, a quick ratio of 12.80 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $331.90 million and a P/E ratio of -0.49. The stock's 50-day moving average price is $9.98.

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

Insider Transactions at Mobia Medical

In other news, Director Casey Tansey purchased 35,572 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average price of $11.51 per share, for a total transaction of $409,433.72. Following the completion of the purchase, the director directly owned 268,904 shares of the company's stock, valued at $3,095,085.04. The trade was a 15.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 87,000 shares of company stock valued at $1,016,367 in the last ninety days.

Institutional Investors Weigh In On Mobia Medical

Hedge funds and other institutional investors have recently modified their holdings of the company. Readystate Asset Management LP purchased a new stake in shares of Mobia Medical during the 2nd quarter worth $134,000. Citadel Advisors LLC purchased a new position in Mobia Medical in the second quarter valued at $670,000. State Street Corp purchased a new position in Mobia Medical in the second quarter valued at $735,000. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in Mobia Medical in the third quarter valued at $1,019,000.

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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