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WALTHAM, MA – The Chief Financial Officer and Treasurer of Vicarious Surgical Inc. (NYSE:RBOT), Kelly William John, has sold a portion of his stock in the company. The transaction, which took place on July 18, 2024, involved the sale of 27 shares of Class A Common Stock at an average price of $7.9663, netting a total of $215.
The sale was conducted to meet tax withholding requirements related to the vesting of restricted stock units granted to the executive on November 23, 2021. Investors were made aware of the transaction through a recent filing with the Securities and Exchange Commission.
In detail, the shares were sold at prices ranging from $7.78 to $8.21, as indicated by the weighted average sales price. The exact number of shares sold at each price point is available upon request from the SEC, Vicarious Surgical Inc., or any of its security holders.
Following the sale, Kelly William John’s ownership in Vicarious Surgical stands at 16,798 shares of Common Stock. It is important to note that these figures have been adjusted to reflect a 1-for-30 reverse stock split executed by the issuer on June 13, 2024.
Vicarious Surgical Inc., based in Waltham, Massachusetts, operates within the orthopedic, prosthetic, and surgical appliances and supplies sector. The company, formerly known as D8 Holdings Corp., has been incorporated in Delaware and is known for its innovative solutions in the surgical field.
Investors and stakeholders in Vicarious Surgical Inc. continue to monitor insider transactions as part of their assessment of the company's financial health and management's confidence in the firm’s prospects.
In other recent news, Vicarious Surgical has reported noteworthy progress on its V1.0 surgical system in its first-quarter financial results for 2024. The company's operating expenses were down 28% from the previous year, totaling $16.1 million. Vicarious Surgical also reported an adjusted net loss of $15.1 million for the quarter. Research and Development expenses amounted to $10 million, with general and administrative expenses at $5 million. The company has a substantial cash reserve of $84 million, with an estimated cash burn rate for 2024 projected to be around $50 million. The V1.0 system is expected to be completed by fall 2024, with a clinical trial planned for 2025. These are among the recent developments at Vicarious Surgical.
InvestingPro Insights
As investors digest the recent insider stock sale by Vicarious Surgical Inc.'s CFO, it's essential to consider the broader financial context of the company. With a market capitalization of approximately $42.98 million and a negative price-to-earnings (P/E) ratio of -0.63, reflecting challenges in profitability, the company's financial situation warrants a closer look. Notably, the adjusted P/E ratio for the last twelve months as of Q1 2024 stands at -0.71, indicating persistent earnings difficulties.
On the performance front, Vicarious Surgical's stock has experienced significant volatility. The stock has taken a considerable hit over the last week, with a price total return of -9.77%. This is in stark contrast to a strong return over the last month, where it posted a 12.79% total return. Yet, the one-year price total return paints a grimmer picture, showing a steep decline of -87.11%.
An InvestingPro Tip that stands out in light of the CFO's stock sale is that analysts do not expect Vicarious Surgical to be profitable this year. This aligns with the negative operating income reported in the last twelve months as of Q1 2024, which amounted to a substantial -$73.73 million. Additionally, despite holding more cash than debt, which is generally a positive sign of liquidity, the company is quickly burning through cash, as highlighted by another InvestingPro Tip.
For investors seeking a more in-depth analysis of Vicarious Surgical Inc., there are additional InvestingPro Tips available, which can provide further insights into the company's financial health and stock performance. For access to these valuable tips, consider using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription at https://www.investing.com/pro/RBOT.
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