Vicarious Surgical Inc. (NYSE:RBOT) reported that its Chief Technology Officer, Sammy Khalifa, sold shares of the company's stock on September 3, 2024. The transaction, which was disclosed in a recent filing, involved the sale of 204 shares at an average price of $5.8779, totaling approximately $1,199.
The shares were sold to cover tax withholding obligations related to the vesting of restricted stock units granted to Khalifa on June 2, 2021. According to the filing, the sales were executed in multiple trades, with prices ranging from $5.66 to $6.27 per share. Following this transaction, Khalifa still owns 38,797 shares of Vicarious Surgical Inc.
Investors and security holders interested in the detailed breakdown of sales prices for these transactions may request full information from Vicarious Surgical Inc. or the SEC staff, as indicated by the reporting officer in the footnotes of the filing.
Vicarious Surgical, based in Waltham, Massachusetts, is known for its work in the field of orthopedic, prosthetic, and surgical appliances and supplies. The company, which is incorporated in Delaware, continues to advance in the medical technology sector with a focus on industrial applications and services.
In other recent news, Vicarious Surgical Inc. reported its Q2 financial results, which revealed a slight miss on earnings per share (EPS), coming in at -$2.86 against the consensus estimate of -$2.72. The company's operating expenses rose 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. Despite these increased expenses, Vicarious Surgical confirmed its development schedule for the V1.0 system, with completion expected by Fall 2024.
Following these results, TD Cowen upgraded Vicarious Surgical's stock, raising its price target to $10.00 from the previous $1.50. The firm cited the company's progress in the development of its robotic system throughout the second quarter. On the other hand, Piper Sandler lowered the price target for Vicarious Surgical to $12 from $30 while maintaining a neutral stance, following a review of the company's second-quarter results.
Vicarious Surgical is also making strides in its partnership with hospital systems like LSU Health New Orleans, advancing its V1.0 surgical system integration and clinical trial plans. The company anticipates beginning surgical operations on humans around the same time next year, aligning with previous projections. These are the recent developments surrounding Vicarious Surgical.
InvestingPro Insights
Vicarious Surgical Inc. (NYSE:RBOT) has been navigating a challenging financial landscape, as reflected in recent market data and analysis. With a market capitalization of $34.62 million, the company is relatively small in size, which can sometimes lead to higher volatility in stock performance. This volatility is apparent with the stock's significant price decline over the past year, with a one-year total return of -79.68% as of recent data.
An important aspect for investors to consider is the company's financial health. According to InvestingPro Tips, Vicarious Surgical holds more cash than debt on its balance sheet, which is typically a positive sign for financial stability. However, the company is also quickly burning through cash and has been flagged for weak gross profit margins. Moreover, analysts do not expect the company to be profitable this year, and its valuation implies a poor free cash flow yield. These factors may concern investors looking for near-term profitability or strong cash generation.
Despite these challenges, the company's liquid assets exceed its short-term obligations, which may provide some reassurance regarding its ability to meet immediate financial commitments. For investors seeking more in-depth analysis and additional InvestingPro Tips, there are 10 more tips available which can be found at InvestingPro's dedicated page for Vicarious Surgical.
As of the last reported period, the company's price-to-book ratio stood at 0.49, suggesting that the market is valuing the company at less than its book value, which could indicate a potential undervaluation or reflect investor concerns about future growth prospects. Additionally, the recent price of $6.04 per share is significantly below the InvestingPro Fair Value estimate of $8.47, which may attract value-oriented investors.
Understanding these financial metrics and market dynamics is crucial for stakeholders and potential investors, especially in light of recent insider transactions. As the company's CTO sold shares for tax obligations, it's important to consider the broader financial context in which these sales occur.
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