Mobia Medical (NASDAQ:MOBI) Posts Quarterly Earnings Results

Mobia Medical (NASDAQ:MOBI) posted its earnings results on Thursday, June 4th. The company reported ($19.30) EPS for the quarter, Zacks reports. The business had revenue of $12.07 million during the quarter.

Mobia Medical Price Performance

Shares of Mobia Medical stock traded up $0.49 during trading hours on Thursday, reaching $13.65. 104,610 shares of the company’s stock were exchanged, compared to its average volume of 184,571. The company has a market cap of $453.85 million, a price-to-earnings ratio of -0.71 and a beta of 2.84. Mobia Medical has a fifty-two week low of $10.19 and a fifty-two week high of $15.29.

Wall Street Analysts Forecast Growth

MOBI has been the topic of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on Mobia Medical in a research note on Tuesday, June 2nd. They issued an “overweight” rating and a $15.00 price target on the stock. BTIG Research initiated coverage on Mobia Medical in a research report on Tuesday, June 2nd. They issued a “buy” rating and a $19.00 price objective for the company. Bank of America began coverage on Mobia Medical in a research report on Tuesday, June 2nd. They issued a “buy” rating and a $16.00 target price for the company. Wall Street Zen raised shares of Mobia Medical from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Finally, The Goldman Sachs Group assumed coverage on Mobia Medical in a report on Tuesday, June 2nd. They issued a “buy” rating and a $31.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $20.25.

Insider Transactions at Mobia Medical

In other news, Director Casey M. Tansey acquired 66,666 shares of Mobia Medical stock in a transaction on Monday, May 11th. The stock was bought at an average cost of $15.00 per share, with a total value of $999,990.00. Following the completion of the purchase, the director owned 233,332 shares of the company’s stock, valued at $3,499,980. This represents a 40.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Osage University Gp Iii, Llc bought 533,333 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average cost of $15.00 per share, with a total value of $7,999,995.00. Following the transaction, the insider owned 2,006,716 shares of the company’s stock, valued at $30,100,740. This represents a 36.20% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 1,273,332 shares of company stock valued at $19,088,930.