Mobia Medical, Inc. (NASDAQ:MOBI) Short Interest Up 140.3% in June

Mobia Medical, Inc. (NASDAQ:MOBI) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 827,893 shares, a growth of 140.3% from the May 31st total of 344,480 shares. Based on an average daily trading volume, of 247,511 shares, the short-interest ratio is currently 3.3 days. Currently, 2.5% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

MOBI has been the subject of several analyst reports. Wall Street Zen upgraded shares of Mobia Medical from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. The Goldman Sachs Group initiated coverage on shares of Mobia Medical in a research note on Tuesday, June 2nd. They issued a “buy” rating and a $31.00 price objective for the company. BTIG Research started coverage on Mobia Medical in a report on Tuesday, June 2nd. They issued a “buy” rating and a $19.00 price target on the stock. JPMorgan Chase & Co. initiated coverage on Mobia Medical in a research report on Tuesday, June 2nd. They issued an “overweight” rating and a $15.00 price objective on the stock. Finally, Wolfe Research assumed coverage on Mobia Medical in a research report on Tuesday, June 2nd. They set an “outperform” rating for the company. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Mobia Medical has an average rating of “Moderate Buy” and a consensus target price of $20.25.

Mobia Medical Stock Up 1.0%

NASDAQ MOBI traded up $0.13 on Wednesday, reaching $13.53. 81,760 shares of the stock traded hands, compared to its average volume of 184,004. Mobia Medical has a 12 month low of $10.19 and a 12 month high of $15.29. The firm has a market cap of $449.86 million, a PE ratio of 66.00 and a beta of 2.84.

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

Insiders Place Their Bets

In other Mobia Medical news, major shareholder Osage University Gp Iii, Llc bought 533,333 shares of Mobia Medical stock in a transaction dated Monday, May 11th. The shares were purchased at an average cost of $15.00 per share, for a total transaction of $7,999,995.00. Following the acquisition, the insider directly owned 2,006,716 shares in the company, valued at approximately $30,100,740. This represents a 36.20% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dana G. Jr. Mead bought 7,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $15.00 per share, for a total transaction of $105,000.00. Following the completion of the transaction, the director directly owned 7,000 shares in the company, valued at approximately $105,000. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 1,273,332 shares of company stock worth $19,088,930.