Mobia Medical, Inc.’s Lock-Up Period To End Tomorrow (NASDAQ:MOBI)

Mobia Medical’s (NASDAQ:MOBI) lock-up period is set to end on Wednesday, November 4th. Mobia Medical had issued 10,000,000 shares in its public offering on May 8th. The total size of the offering was $150,000,000 based on an initial share price of $15.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MOBI shares. BTIG Research reiterated a “buy” rating and set a $19.00 price target on shares of Mobia Medical in a research note on Tuesday, October 20th. Weiss Ratings began coverage on Mobia Medical in a research note on Wednesday, August 12th. They issued a “sell (e-)” rating for the company. Finally, 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 note on Wednesday, August 12th. Five equities research 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 data from MarketBeat, Mobia Medical presently has an average rating of “Moderate Buy” and an average price target of $20.75.

Mobia Medical Stock Down 4.8%

NASDAQ MOBI opened at $10.07 on Tuesday. Mobia Medical has a 52 week low of $8.03 and a 52 week high of $15.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 12.80 and a current ratio of 13.28. The stock has a 50-day moving average of $10.00.

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

Insiders Place Their Bets

In other news, Director Casey Tansey purchased 35,572 shares of the stock in a transaction on Thursday, August 13th. The shares were acquired at an average price of $11.51 per share, with a total value of $409,433.72. Following the completion of the acquisition, the director directly owned 268,904 shares of the company’s stock, valued at $3,095,085.04. This trade represents a 15.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 87,000 shares of company stock worth $1,016,367 over the last quarter.

Institutional Trading of Mobia Medical

Several institutional investors and hedge funds have recently modified their holdings of the company. Readystate Asset Management LP purchased a new position in shares of Mobia Medical during the 2nd quarter valued at $134,000. Citadel Advisors LLC bought a new position in Mobia Medical in the 2nd quarter worth $670,000. Finally, State Street Corp bought a new position in Mobia Medical in the 2nd quarter worth $735,000.

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.