In a recent transaction filed with the Securities and Exchange Commission, John Mazzola, the Chief Operating Officer of Vicarious Surgical Inc. (NYSE:RBOT), sold 228 shares of the company's Class A Common Stock. The sale, which occurred on December 3, 2024, totaled approximately $3,047, with a weighted average sale price of $13.37 per share. The stock has shown remarkable momentum, gaining over 54% in the past six months, according to InvestingPro data. This transaction was carried out to cover tax withholding obligations related to the vesting of restricted stock units granted earlier this year. Following the sale, Mazzola retains ownership of 9,762 shares in the company. InvestingPro analysis shows the company maintains a strong liquidity position with a current ratio of 7.44, while holding more cash than debt on its balance sheet. For deeper insights into RBOT's financial health and detailed analysis, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Vicarious Surgical Inc. has reported a narrowed net loss in its third quarter, indicating significant progress in its financial health. The company's adjusted net loss for the quarter was $17 million, down from last year's $20.4 million. Operating expenses also saw a decrease of 17%, totaling $17.8 million. Vicarious Surgical maintains a robust cash position with $61 million on hand, projecting a cash burn of $50 million for the year.
In terms of technological advancements, the company is nearing the completion of its single-port robotic surgery platform. The company expects to treat its first patient within a year, starting with ventral hernia repairs in clinical trials outside the U.S.
Piper Sandler recently adjusted its outlook on Vicarious Surgical, reducing the price target to $10.50 from the previous $12.00 while maintaining a neutral rating. This adjustment follows the company's third-quarter results, which fell short of the anticipated earnings per share. Despite the lowered price target, Piper Sandler acknowledged the long-term potential of Vicarious Surgical's differentiated technology.
These are the recent developments in Vicarious Surgical's journey. The company's focus now shifts to the successful completion of clinical trials and the subsequent introduction of their technology to the market.
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