Mobia Medical, Inc.’s (NASDAQ:MOBI) Lock-Up Period To End on November 4th

by · The Markets Daily

Mobia Medical’s (NASDAQ:MOBI – Get Free Report) lock-up period is set to expire on Wednesday, November 4th. Mobia Medical had issued 10,000,000 shares in its IPO on May 8th. The total size of the offering was $150,000,000 based on an initial share price of $15.00. After the expiration of Mobia Medical’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Ratings Changes

MOBI has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Mobia Medical from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. BTIG Research reiterated a “buy” rating and set a $19.00 price target on shares of Mobia Medical in a report on Tuesday, October 20th. Finally, Weiss Ratings assumed coverage on Mobia Medical in a report on Wednesday, August 12th. They set a “sell (e-)” rating for the company. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.75.

Get Our Latest Stock Analysis on MOBI

Mobia Medical Stock Down 6.1%

Shares of MOBI opened at $10.58 on Friday. The business’s fifty day simple moving average is $10.01. Mobia Medical has a 12 month low of $8.03 and a 12 month high of $15.29. The firm has a market cap of $352.21 million and a price-to-earnings ratio of -0.52. The company has a current ratio of 13.28, a quick ratio of 12.80 and a debt-to-equity ratio of 0.04.

Mobia Medical (NASDAQ:MOBI – Get Free Report) last released 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 company had revenue of $13.51 million for the quarter. The firm’s revenue for the quarter was up 102.4% compared to the same quarter last year. As a group, research analysts predict that Mobia Medical will post -2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Casey Tansey bought 35,572 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were bought at an average cost of $11.51 per share, for a total transaction of $409,433.72. Following the completion of the acquisition, the director directly owned 268,904 shares in the company, valued at approximately $3,095,085.04. This represents a 15.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 87,000 shares of company stock worth $1,016,367 in the last 90 days.

Institutional Trading of Mobia Medical

Several large investors have recently made changes to their positions in MOBI. Readystate Asset Management LP acquired a new position in shares of Mobia Medical during the 2nd quarter valued at about $134,000. Citadel Advisors LLC bought a new position in shares of Mobia Medical in the 2nd quarter valued at approximately $670,000. Finally, State Street Corp acquired a new stake in Mobia Medical in the 2nd quarter worth approximately $735,000.

About Mobia Medical

(Get Free Report)

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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