Khalifa Sammy, the Chief Technology Officer of Vicarious Surgical Inc. (NYSE:RBOT), recently sold a portion of the company's stock amid the company's strong market performance, with shares up 77.79% over the past year. According to a filing with the Securities and Exchange Commission, Sammy sold 239 shares of Class A Common Stock on December 3, 2024. The shares were sold at a weighted average price of $13.4592, resulting in a total transaction value of approximately $3,216. According to InvestingPro analysis, RBOT currently trades slightly below its Fair Value.
The sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units granted on June 2, 2023. Following this transaction, Sammy holds 37,793 shares of Vicarious Surgical. The sales price ranged from $12.60 to $14.63 per share. Sammy has committed to providing detailed information about the number of shares sold at each price upon request. InvestingPro data shows the company maintains strong liquidity with a current ratio of 7.44, while offering investors 12 additional key insights about RBOT's financial health and market position.
In other recent news, Vicarious Surgical Inc. has announced significant progress in their financial health and technological developments. The company's third quarter results revealed a narrowed net loss of $17 million, down from last year's $20.4 million, and a 17% decrease in operating expenses, which totaled $17.8 million. Vicarious Surgical maintains a strong cash position with $61 million in hand, projecting a cash burn of $50 million for the year.
On the technological front, Vicarious Surgical is nearing the completion of its single-port robotic surgery platform. The company's CEO, Adam Sachs, revealed that they expect to treat the first patient within a year, starting with ventral hernia repairs in clinical trials outside the U.S.
In addition, Piper Sandler adjusted its outlook on shares of Vicarious Surgical, reducing the price target to $10.50 from the previous $12.00 while maintaining a Neutral rating on the stock. Despite the lowered price target, the firm acknowledged the long-term potential of Vicarious Surgical's differentiated technology.
Furthermore, Vicarious Surgical is in the process of selecting specific sites for an overseas clinical trial for ventral hernia, part of the company's strategy to advance its clinical programs and prepare for commercialization. These are the recent developments in Vicarious Surgical's journey.
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