WALTHAM, MA – In a recent transaction, Adam David Sachs, the CEO of Vicarious Surgical Inc. (NYSE:RBOT), sold 698 shares of the company's Class A Common Stock, resulting in a total sale value exceeding $4,400. The shares were sold at a weighted average price of $6.32, with individual sale prices ranging from $6.16 to $6.625.
The sale, dated August 20, 2024, was disclosed to cover tax withholding obligations related to the vesting of restricted stock units granted to Mr. Sachs on May 19, 2022. Following the sale, Sachs holds a total of 55,596 shares in Vicarious Surgical Inc., maintaining a significant stake in the medical technology firm that specializes in orthopedic, prosthetic, and surgical appliances and supplies.
Investors and followers of Vicarious Surgical Inc. may be interested to note that the transaction was part of a planned sale to meet tax obligations and not an open-market transaction. The company, which is based in Waltham, Massachusetts, has previously been known as D8 Holdings Corp. before changing its name.
The transaction was reported in a Form 4 filing with the Securities and Exchange Commission (SEC), as is standard for insiders of publicly-traded companies. The CEO's remaining share ownership indicates continued alignment with the company's success and shareholder interests.
For those interested in the specifics of the sale, Sachs has committed to providing full information regarding the number of shares sold at each price point upon request by the SEC, Vicarious Surgical Inc., or any security holder.
Vicarious Surgical Inc. continues to operate in the medical technology field, aiming to improve patient outcomes with its innovative surgical solutions. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol RBOT.
In other recent news, Vicarious Surgical Inc. reported its Q2 financial results, revealing a slight miss on earnings per share (EPS) at -$2.86 compared to the consensus estimate of -$2.72. Despite this, the company's operating expenses increased by 17% year-over-year to $17.7 million, primarily due to investments in research and development. Vicarious Surgical remains on track with the development of its V1.0 system and plans for initial clinical patient testing in 2025.
TD Cowen has increased its price target for Vicarious Surgical shares to $10.00, maintaining a Buy rating, while Piper Sandler lowered its price target to $12 but kept a neutral stance. Both firms highlighted the company's progress in its robotic system development and its effective cash management, with a projected cash burn of around $50 million for 2024.
Vicarious Surgical also announced partnerships with hospital systems like LSU Health New Orleans for its clinical trial plans. The company is preparing for a fall launch of its V1.0 system, with final testing and subsystem evaluations underway. These are the recent developments surrounding Vicarious Surgical.
InvestingPro Insights
As investors evaluate the recent insider transaction by Vicarious Surgical Inc.'s CEO, Adam David Sachs, it's crucial to consider the broader financial context of the company. According to InvestingPro data, Vicarious Surgical Inc. (NYSE:RBOT) currently holds a market capitalization of $38.04 million. This valuation comes despite the company's negative P/E ratio, which stands at -0.61, reflecting the challenges it faces in achieving profitability.
InvestingPro Tips highlight several key aspects that investors should be aware of. Vicarious Surgical Inc. is noted for holding more cash than debt on its balance sheet, which is a positive sign of financial stability. However, the company is also quickly burning through cash, a point of concern that could impact long-term sustainability. Additionally, while the stock has experienced a significant return over the last week, with a 16.88% price total return, it has fared poorly over the last month and quarter, with price total returns of -19.75% and -40.93%, respectively.
For a more in-depth analysis, there are 11 additional InvestingPro Tips available for Vicarious Surgical Inc. at https://www.investing.com/pro/RBOT. These tips offer insights into the company's financial health, market performance, and potential future trajectory, which can be invaluable for making informed investment decisions.
Understanding these financial metrics and expert tips can help investors gauge whether the CEO's share sale aligns with the company's current financial position and future outlook. Vicarious Surgical Inc.'s next earnings date is set for November 12, 2024, which will provide further clarity on the company's performance and strategic direction.
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