Vicarious Surgical COO sells shares worth over $1,100

Vicarious Surgical Inc. (NYSE:RBOT) reported that its Chief Operating Officer, John Mazzola, has sold a portion of his holdings in the company. The transaction, which took place on September 3, 2024, involved the sale of 195 shares of Class A Common Stock at a weighted average price of $5.8191 per share, resulting in a total sale value of over $1,100.

The sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units granted to Mazzola on June 2, 2021. The price range for the shares sold varied from $5.58 to $6.27, with the exact number of shares sold at each price being available upon request to the Securities Exchange Commission or any security holder of Vicarious Surgical Inc.

Following the transaction, Mazzola retains ownership of 9,990 shares of the company's stock. It's important to note that the reported number of securities has been adjusted to account for a 1-for-30 reverse stock split on the company's Common Stock, which took effect on June 12, 2024.

Investors and shareholders of Vicarious Surgical Inc. can request detailed information about the sale from the company or the SEC if needed. The sale was reported in accordance with regulatory requirements, and the remaining stake held by Mazzola indicates his continued investment in the company's future.

In other recent news, Vicarious Surgical Inc. has been making significant strides in the development of its robotic system. TD Cowen has raised the company's stock price target to $10, maintaining a Buy rating, while Piper Sandler lowered the price target to $12 but retained a neutral stance. This comes after Vicarious Surgical's Q2 financial results revealed an adjusted earnings per share (EPS) of -$2.86, slightly missing the consensus estimate of -$2.72. Operating expenses have increased by 17% year-over-year to $17.7 million, primarily due to investments in research and development (R&D) and general and administrative (SG&A) expenses. However, the company is on track with the development of its V1.0 system, which is expected to be completed by Fall 2024. Vicarious Surgical also anticipates beginning surgical operations on humans around the same time next year, aligning with previous projections. The company is effectively managing its cash reserves, with a projected cash burn of around $50 million for the year 2024. These are the latest developments in Vicarious Surgical's ongoing efforts.

InvestingPro Insights

Vicarious Surgical Inc. (NYSE:RBOT) has seen its share of challenges, reflected in the recent insider sale by its COO, John Mazzola. An InvestingPro analysis reveals several critical points that investors should be aware of when considering the company's financial health and market performance. Firstly, RBOT holds more cash than debt on its balance sheet, which can be a sign of financial stability. However, the company is quickly burning through its cash reserves, which raises concerns about its long-term sustainability.

From a market perspective, RBOT's stock has experienced significant volatility. Over the last week alone, the stock took a big hit, with a price total return of -7.79%. This short-term decline is part of a broader trend, as the stock price has plummeted by -79.68% over the last year, currently trading at only 20.38% of its 52-week high. This steep decline could signal a lack of investor confidence or underlying challenges within the company.

On the valuation front, RBOT's market cap stands at a modest $34.62 million, and the company's P/E ratio is negative, at -0.55, reflecting the company's current lack of profitability. Analysts do not anticipate Vicarious Surgical will be profitable this year, and the valuation implies a poor free cash flow yield, which is a red flag for potential investors looking for growth or income.

For those interested in a deeper dive, there are 11 additional InvestingPro Tips available at https://www.investing.com/pro/RBOT, providing a comprehensive analysis of Vicarious Surgical Inc.'s financials and market standing.

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