Short Interest in Mobia Medical, Inc. (NASDAQ:MOBI) Grows By 140.3%

Mobia Medical, Inc. (NASDAQ:MOBI) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 827,893 shares, an increase of 140.3% from the May 31st total of 344,480 shares. Currently, 2.5% of the shares of the company are short sold. Based on an average daily volume of 247,511 shares, the days-to-cover ratio is presently 3.3 days.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MOBI. Wall Street Zen upgraded Mobia Medical from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Wolfe Research started coverage on Mobia Medical in a research note on Tuesday, June 2nd. They set an “outperform” rating on the stock. Zacks Research raised Mobia Medical to a “hold” rating in a report on Wednesday, June 3rd. BTIG Research started coverage on Mobia Medical in a report on Tuesday, June 2nd. They set a “buy” rating and a $19.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Mobia Medical in a report on Tuesday, June 2nd. They set an “overweight” rating and a $15.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Insider Buying and Selling at Mobia Medical

In other news, insider Chase C. Leavitt bought 3,000 shares of Mobia Medical stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $15.00 per share, with a total value of $45,000.00. Following the acquisition, the insider owned 3,000 shares of the company’s stock, valued at approximately $45,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dana G. Jr. Mead bought 7,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $15.00 per share, with a total value of $105,000.00. Following the completion of the transaction, the director owned 7,000 shares in the company, valued at approximately $105,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have acquired 1,273,332 shares of company stock valued at $19,088,930.

Mobia Medical Trading Down 6.8%

Mobia Medical stock traded down $0.98 during trading on Tuesday, hitting $13.40. The company’s stock had a trading volume of 167,723 shares, compared to its average volume of 187,566. The firm has a market capitalization of $445.54 million, a P/E ratio of 66.00 and a beta of 2.84. Mobia Medical has a 1-year low of $10.19 and a 1-year high of $15.29.

Mobia Medical (NASDAQ:MOBI) last issued its quarterly earnings results on Thursday, June 4th. The company reported $999.00 EPS for the quarter. The company had revenue of $12.07 million for the quarter.