In a recent move, the Chief Technology Officer of Vicarious Surgical Inc. (NYSE:RBOT), Sammy Khalifa, sold a portion of his company shares, generating a total of $644. This transaction was carried out to meet tax withholding requirements associated with the vesting of restricted stock units.
The sale, which occurred on September 20, involved a total of 112 shares of Class A Common Stock at a weighted average price between $5.69 and $5.79 per share. Following this transaction, Khalifa's direct ownership in the company stands at 38,685 shares.
Investors tracking insider activities may note that these sales were explicitly made to cover tax obligations related to previously granted stock units. The restricted stock units in question were initially granted on November 23, 2021, and have recently vested, prompting the need for this financial action.
Vicarious Surgical Inc., a company specializing in orthopedic, prosthetic, and surgical appliances and supplies, has its shares publicly traded under the symbol RBOT. The company, which is incorporated in Delaware, has its business address in Waltham, Massachusetts.
As per the filing, the company has offered to provide full details regarding the number of shares sold at each price point upon request to either the Securities Exchange Commission, Vicarious Surgical Inc., or any of its security holders.
This information provides a glimpse into the financial decisions made by company executives, which can be a point of interest for current and potential investors.
In other recent news, Vicarious Surgical Inc. reported its Q2 financial results, revealing adjusted earnings per share (EPS) of -$2.86, slightly missing the consensus estimate of -$2.72. The company's operating expenses 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. Despite the rise in expenses, Vicarious Surgical confirmed that it is on schedule with the development of its V1.0 system, expected to be completed by Fall 2024.
TD (TSX:TD) Cowen has raised its price target for Vicarious Surgical from $1.50 to $10.00, maintaining a Buy rating on the stock. The firm noted that the company has been making positive strides in the development of its robotic system. Meanwhile, Piper Sandler lowered its price target for Vicarious Surgical to $12 from $30 while maintaining a neutral stance.
In terms of strategic partnerships, Vicarious Surgical has partnered with hospital systems like LSU Health New Orleans to enhance trial activities and system validation. The company anticipates beginning surgical operations on humans around the same time next year. These are the recent developments surrounding Vicarious Surgical.
InvestingPro Insights
In light of the recent insider transaction at Vicarious Surgical Inc. (NYSE:RBOT), investors may be seeking a broader understanding of the company's financial health and stock performance. According to InvestingPro data, RBOT's market capitalization currently stands at approximately $32.61 million, indicating a relatively small size within the market. The company's stock has experienced significant volatility, with a 1-month price total return showing a decline of 16.28%, and an even sharper 1-year price total return decrease of 72.93%. This trend reflects a challenging period for the company's stock value.
Considering the company's financial performance, RBOT has posted a negative operating income of nearly $70 million over the last twelve months as of Q2 2024, with a corresponding negative EBITDA growth of 19.98%. These figures suggest that the company is facing operational challenges that have affected its earnings before interest, taxes, depreciation, and amortization. Additionally, the InvestingPro Tips highlight that RBOT is not expected to be profitable this year, as analysts predict continued losses.
Despite these challenges, there are aspects of RBOT's balance sheet that may offer some reassurance to investors. An InvestingPro Tip notes that the company holds more cash than debt, which could provide some financial flexibility in the short term. Moreover, RBOT's liquid assets exceed its short-term obligations, suggesting that the company is capable of covering its immediate financial liabilities.
For a more comprehensive analysis and additional insights, investors can explore the full range of InvestingPro Tips available for RBOT, which currently lists 10 tips on https://www.investing.com/pro/RBOT. This resource can provide valuable context and guidance for those considering investment decisions related to Vicarious Surgical Inc.
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