Adam David Sachs, CEO of Vicarious Surgical Inc. (NYSE:RBOT), recently sold 463 shares of the company's Class A common stock. The shares were sold at a weighted average price of $13.5018, resulting in a total transaction value of approximately $6,251. The stock has shown remarkable momentum, gaining over 77% in the past year, with the current trading price at $17.19. According to InvestingPro analysis, RBOT appears slightly undervalued based on its Fair Value estimates. This sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units granted earlier this year. Following this transaction, Sachs holds 53,781 shares directly. The sales were executed on December 3, 2024, as part of routine financial management. InvestingPro data 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. Subscribers can access 10+ additional ProTips and comprehensive financial metrics in the Pro Research Report.
In other recent news, Vicarious Surgical Inc. reported a narrowed net loss in its third-quarter results, revealing a decrease to $17 million from the previous year's $20.4 million. The company also noted a 17% decrease in operating expenses, resulting in a total of $17.8 million. With a robust cash position of $61 million, Vicarious Surgical is on track with its projected 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. Vicarious Surgical anticipates treating its first patient within the next year, beginning with ventral hernia repairs in clinical trials outside the U.S.
Furthermore, Piper Sandler adjusted its outlook on Vicarious Surgical, reducing the price target to $10.50 from $12.00 while maintaining a neutral rating. Despite the adjustment, the firm acknowledged the long-term potential of Vicarious Surgical's differentiated technology. These are among the latest developments in Vicarious Surgical's journey.
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