Vicarious Surgical Inc. (NYSE:RBOT) reported that its Chief Financial Officer and Treasurer, William John Kelly, sold a portion of his holdings in the company. The transactions, which were carried out to meet tax withholding obligations, involved the sale of 186 shares of Class A Common Stock at an average price range of $5.56 to $6.27, resulting in a total value of approximately $1,078.
The sale, detailed in a recent SEC filing, was executed on September 3, 2024, and followed a transfer of shares and stock options to Kelly's ex-spouse as part of a divorce decree, which took place earlier on July 1, 2024. Following the sale, Kelly's direct ownership in the company stands at 12,624 shares of Class A Common Stock.
The filing also provided information on the weighted average sales price for the shares sold, with Kelly committing to furnish full details on the number of shares sold at each separate price if requested by the SEC, Vicarious Surgical Inc., or any of its security holders.
In addition to the stock sale, the SEC document noted that Kelly had transferred stock options to his ex-spouse, which are no longer beneficially owned by him. These transactions were not reflected in the total value of the stock sale.
Investors in Vicarious Surgical Inc. can stay informed about the financial interests of the company's executives through such SEC filings, which offer insights into the buying and selling activities of top insiders.
In other recent news, Vicarious Surgical, the robotics-driven surgical firm, has been the focus of multiple analysts. TD Cowen has upgraded Vicarious Surgical's stock target to $10.00 from the previous $1.50 and maintained a Buy rating, noting the company's positive strides in the development of its robotic system. In contrast, Piper Sandler has lowered the price target for Vicarious Surgical to $12 from $30 while maintaining a neutral stance, following the announcement of the company's second-quarter results.
Vicarious Surgical 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, mainly due to investments in research and development (R&D) and general and administrative (SG&A) expenses.
The company is on track to deliver key milestones in the coming quarters, including the system integration of its V1.0 system, expected to be completed by Fall 2024. The successful integration is anticipated to pave the way for initial clinical patient testing, targeted for 2025. These are the recent developments surrounding Vicarious Surgical.
InvestingPro Insights
As investors consider the recent sale of Vicarious Surgical Inc. (NYSE:RBOT) shares by CFO William John Kelly, it's crucial to examine the company's broader financial landscape. According to InvestingPro data, Vicarious Surgical has a market capitalization of roughly $34.62 million, reflecting the company's valuation in the eyes of investors. Despite the small size of the transaction, the company's financial health can be a significant factor in understanding insider behavior.
The company's current P/E Ratio stands at -0.55, indicating that investors are not expecting earnings to cover the stock price in the near term. This is further supported by an adjusted P/E Ratio over the last twelve months as of Q2 2024, which stands at -0.58. Additionally, the company has been experiencing a negative return on assets of -61.68% during the same period, suggesting challenges in generating profit from its assets.
InvestingPro Tips for Vicarious Surgical reveal that the company is quickly burning through cash and has weak gross profit margins, which could be contributing factors to the CFO's decision to sell shares. The company also does not pay a dividend to shareholders, which might influence investor sentiment and the stock's attractiveness for those seeking income-generating investments. Moreover, with analysts not anticipating the company to be profitable this year, the insider sale could be perceived within the context of broader financial challenges faced by Vicarious Surgical.
For those interested in a deeper dive into the company's metrics, InvestingPro offers additional insights, with a total of 11 InvestingPro Tips available, which can help investors make more informed decisions. These tips can be accessed at https://www.investing.com/pro/RBOT, providing a comprehensive view of the company's financial health and performance indicators.
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