Vicarious Surgical Inc. (NYSE:RBOT) CEO Adam David Sachs has sold a total of 13,896 shares of the company's Class A Common Stock, garnering over $4,400 in proceeds. The transaction, which took place on June 3, 2024, was disclosed in a recent SEC filing.
The shares were sold at a weighted average price of $0.3216, with individual trades ranging from $0.3099 to $0.3399 per share. According to the filing, the sales were conducted to cover tax withholding obligations related to the vesting of restricted stock units granted to the CEO on June 2, 2023.
Following the transaction, Sachs still holds a substantial position in the company, with 1,691,822 shares of Vicarious Surgical Inc. remaining under his direct ownership. The company, which is based in Waltham, Massachusetts, specializes in orthopedic, prosthetic, and surgical appliances and supplies.
Investors and interested parties have been informed that further details regarding the number of shares sold at each price point can be provided upon request to either the SEC, Vicarious Surgical Inc., or any security holder of the company.
This disclosure comes as part of the routine financial reporting required by executives and is indicative of Sachs's financial dealings with his company's stock. The remaining equity stake held by Sachs represents his ongoing investment in Vicarious Surgical's future.
InvestingPro Insights
In light of the recent sale of shares by Vicarious Surgical Inc.'s CEO, Adam David Sachs, investors may be evaluating the company's financial health and future prospects. According to InvestingPro data, Vicarious Surgical Inc. (NYSE:RBOT) currently holds a market capitalization of $47.4 million. The company's price-to-earnings (P/E) ratio stands at a negative -0.83, indicating that investors are expecting negative earnings. Adjusted for the last twelve months as of Q1 2024, the P/E ratio slightly improves to -0.78.
Despite the challenges, one InvestingPro Tip suggests that Vicarious Surgical is in a relatively strong liquidity position, holding more cash than debt on its balance sheet. Additionally, two analysts have revised their earnings estimates upwards for the upcoming period, which could signal a potential turnaround or positive developments within the company.
Nevertheless, it's important to note that the company is quickly burning through cash and suffers from weak gross profit margins. Moreover, analysts are not optimistic about the company's profitability in the current year, and the valuation implies a poor free cash flow yield. These factors may be contributing to the significant drop in the stock price over the last year, with a 1 Year Price Total Return of -85.24% as of the same date.
For those interested in a deeper dive into Vicarious Surgical's performance and prospects, InvestingPro offers additional insights. There are currently 9 more InvestingPro Tips available that could help investors make a more informed decision. To explore these tips and utilize the platform's full analytical capabilities, consider subscribing with the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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