Mobia Medical, Inc. (NASDAQ:MOBI) Sees Significant Decrease in Short Interest

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

Insider Buying and Selling

In related news, CFO Nelson Bunker Curnes acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was acquired at an average cost of $12.79 per share, for a total transaction of $63,950.00. Following the transaction, the chief financial officer directly owned 366,997 shares in the company, valued at $4,693,891.63. This trade represents a 1.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dana G. Jr. Mead acquired 7,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price 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 $105,000. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 1,273,332 shares of company stock worth $19,088,930 in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of Mobia Medical in a research note on Tuesday, June 2nd. They set an “overweight” rating and a $15.00 target price on the stock. Wolfe Research began coverage on Mobia Medical in a research note on Tuesday, June 2nd. They issued an “outperform” rating for the company. Zacks Research upgraded Mobia Medical to a “hold” rating in a research note on Wednesday, June 3rd. Wall Street Zen raised Mobia Medical from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Finally, The Goldman Sachs Group assumed coverage on Mobia Medical in a research report on Tuesday, June 2nd. They set a “buy” rating and a $31.00 price objective on the stock. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Mobia Medical Trading Down 3.7%

NASDAQ:MOBI opened at $10.72 on Wednesday. The stock’s 50 day simple moving average is $12.78. Mobia Medical has a one year low of $10.19 and a one year high of $15.29. The firm has a market cap of $356.43 million, a P/E ratio of -0.56 and a beta of 2.84.

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