Mobia Medical, Inc. (NASDAQ:MOBI) Short Interest Down 65.8% in July

Mobia Medical, Inc. (NASDAQ:MOBI) was the recipient of a significant decline in short interest in July. As of July 15th, there was short interest totaling 422,393 shares, a decline of 65.8% from the June 30th total of 1,234,096 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average trading volume of 123,091 shares, the days-to-cover ratio is currently 3.4 days.

Insider Activity at Mobia Medical

In other Mobia Medical news, Director William T. Harrington purchased 533,333 shares of Mobia Medical stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $15.00 per share, with a total value of $7,999,995.00. Following the transaction, the director owned 2,006,716 shares in the company, valued at $30,100,740. This trade represents a 36.20% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dana G. Jr. Mead purchased 7,000 shares of Mobia Medical 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 $105,000.00. Following the transaction, the director owned 7,000 shares in the company, valued at $105,000. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 1,273,332 shares of company stock valued at $19,088,930 over the last three months.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MOBI. Wall Street Zen raised shares of Mobia Medical from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. JPMorgan Chase & Co. began coverage on shares of Mobia Medical in a research report on Tuesday, June 2nd. They set an “overweight” rating and a $15.00 target price for the company. Zacks Research upgraded shares of Mobia Medical to a “hold” rating in a report on Wednesday, June 3rd. Bank of America assumed coverage on shares of Mobia Medical in a research report on Tuesday, June 2nd. They issued a “buy” rating and a $16.00 price target on the stock. Finally, BTIG Research initiated coverage on Mobia Medical in a research note on Tuesday, June 2nd. They set a “buy” rating and a $19.00 price target for the company. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.25.

Mobia Medical Price Performance

Shares of NASDAQ MOBI traded down $0.41 during midday trading on Tuesday, reaching $10.72. The company’s stock had a trading volume of 59,108 shares, compared to its average volume of 157,576. The firm has a market cap of $356.43 million, a PE ratio of -0.56 and a beta of 2.84. The firm has a 50 day moving average price of $12.82. Mobia Medical has a 12-month low of $10.19 and a 12-month high of $15.29.

Mobia Medical (NASDAQ:MOBI) last posted its quarterly earnings data on Thursday, June 4th. The company reported ($19.30) earnings per share for the quarter. The business had revenue of $12.07 million during the quarter.