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

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

Analyst Upgrades and Downgrades

MOBI has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on Mobia Medical from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. BTIG Research reaffirmed a “buy” rating and issued a $19.00 target price on shares of Mobia Medical in a report on Tuesday, October 20th. Finally, Weiss Ratings initiated coverage on shares of Mobia Medical in a research 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 assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Mobia Medical presently has an average rating of “Moderate Buy” and an average price target of $20.75.

Check Out Our Latest Stock Report on Mobia Medical

Mobia Medical Stock Performance

Shares of MOBI opened at $11.27 on Friday. The company has a fifty day simple moving average of $10.02. 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 has a 52-week low of $8.03 and a 52-week high of $15.29. The company has a market cap of $375.18 million and a P/E ratio of -0.56.

Mobia Medical (NASDAQ:MOBI – Get Free Report) last announced its earnings results on Tuesday, August 11th. The company reported ($1.10) 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. The business’s quarterly revenue was up 102.4% on a year-over-year basis. As a group, research analysts predict that Mobia Medical will post -2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Casey Tansey bought 16,441 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was bought at an average cost of $12.07 per share, with a total value of $198,442.87. Following the completion of the purchase, the director owned 318,332 shares in the company, valued at approximately $3,842,267.24. The trade was a 5.45% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have bought 87,000 shares of company stock valued at $1,016,367.

Institutional Trading of Mobia Medical

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MOBI. State Street Corp acquired a new stake in shares of Mobia Medical during the 2nd quarter worth approximately $735,000. Citadel Advisors LLC bought a new stake in shares of Mobia Medical in the 2nd quarter valued at $670,000. Finally, Readystate Asset Management LP bought a new stake in shares of Mobia Medical in the 2nd quarter valued at $134,000.

Mobia Medical Company Profile

(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.

Further Reading

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