Piper Sandler Issues Pessimistic Forecast for Vicarious Surgical (NYSE:RBOT) Stock Price

Key Points

• Piper Sandler has reduced the price target for Vicarious Surgical (NYSE:RBOT) from $8.50 to $7.00, indicating a potential downside of 23.33%.
• The company recently reported an EPS of ($2.23), beating consensus estimates by $0.38, while analysts predict a -10.89 EPS for the current fiscal year.
• Institutional investors own 47.27% of Vicarious Surgical's stock, with notable increases in holdings from firms like Geode Capital Management and Renaissance Technologies.

Vicarious Surgical (NYSE:RBOT - Get Free Report) had its target price dropped by Piper Sandler from $8.50 to $7.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's price target indicates a potential upside of 3.86% from the stock's current price.

Vicarious Surgical Trading Down 1.7%

Shares of RBOT traded down $0.12 during trading hours on Wednesday, reaching $6.74. 53,223 shares of the stock traded hands, compared to its average volume of 29,876. The company has a market cap of $39.97 million, a P/E ratio of -0.67 and a beta of 1.41. The company's 50-day moving average price is $8.73 and its two-hundred day moving average price is $8.73. Vicarious Surgical has a 52-week low of $5.00 and a 52-week high of $19.00.

Vicarious Surgical (NYSE:RBOT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($2.23) EPS for the quarter, beating the consensus estimate of ($2.61) by $0.38. On average, research analysts forecast that Vicarious Surgical will post -10.89 EPS for the current year.

Institutional Investors Weigh In On Vicarious Surgical

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Vicarious Surgical by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 30,799 shares of the company's stock valued at $405,000 after acquiring an additional 2,336 shares during the last quarter. DDD Partners LLC grew its position in shares of Vicarious Surgical by 15.3% during the first quarter. DDD Partners LLC now owns 213,824 shares of the company's stock valued at $1,403,000 after purchasing an additional 28,357 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of Vicarious Surgical by 12.1% in the second quarter. DNB Asset Management AS now owns 29,199 shares of the company's stock worth $219,000 after purchasing an additional 3,154 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Vicarious Surgical by 11.6% in the fourth quarter. Renaissance Technologies LLC now owns 11,534 shares of the company's stock worth $152,000 after buying an additional 1,200 shares in the last quarter. Institutional investors own 47.27% of the company's stock.

About Vicarious Surgical

Vicarious Surgical Inc operates as a robotics technology company in the United States. The company focuses on developing and commercializing Vicarious System, a single-incision surgical robot that virtually transports surgeons inside the patient to perform minimally invasive surgery. Vicarious Surgical Inc was incorporated in 2014 and is headquartered in Waltham, Massachusetts.