Mobia Medical, Inc.’s (NASDAQ:MOBI) Quiet Period Will Expire on June 17th

Mobia Medical’s (NASDAQ:MOBI) quiet period will expire on Wednesday, June 17th. Mobia Medical had issued 10,000,000 shares in its IPO on May 8th. The total size of the offering was $150,000,000 based on an initial share price of $15.00. During Mobia Medical’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

MOBI has been the topic of a number of recent research reports. Wolfe Research initiated coverage on Mobia Medical in a research note on Tuesday, June 2nd. They issued an “outperform” rating on the stock. Zacks Research upgraded Mobia Medical to a “hold” rating in a research note on Wednesday, June 3rd. BTIG Research initiated coverage on Mobia Medical in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $19.00 target price on the stock. Wall Street Zen downgraded Mobia Medical from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Bank of America initiated coverage on Mobia Medical in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $16.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Mobia Medical Stock Up 0.2%

NASDAQ MOBI opened at $12.72 on Wednesday. The stock has a market capitalization of $420.84 million, a P/E ratio of 66.00 and a beta of 2.84. Mobia Medical has a twelve month low of $10.19 and a twelve month high of $14.77.

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

Insider Buying and Selling

In other Mobia Medical news, Director Casey M. Tansey purchased 66,666 shares of Mobia Medical stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $15.00 per share, with a total value of $999,990.00. Following the acquisition, the director owned 233,332 shares of the company’s stock, valued at $3,499,980. This trade represents a 40.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Osage University Gp Iii, Llc purchased 533,333 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 $7,999,995.00. Following the acquisition, the insider directly owned 2,006,716 shares in the company, valued at $30,100,740. This trade represents a 36.20% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 1,268,332 shares of company stock worth $19,024,980 in the last ninety days.