Kelly William John, the Chief Financial Officer and Treasurer of Vicarious Surgical Inc. (NYSE:RBOT), recently sold shares of the company’s Class A common stock. The transaction, which took place on November 20, involved the sale of 109 shares at a weighted average price of $8.9563 per share, resulting in a total transaction value of $976.
The sale was executed to cover tax withholding obligations related to the vesting of restricted stock units granted on May 19, 2022. Following this transaction, Kelly retains ownership of 12,478 shares of Vicarious Surgical. The sales price per share ranged from $8.91 to $9.12.
In other recent news, Vicarious Surgical Inc. has disclosed its third-quarter financial results, revealing a narrowed net loss of $17 million, down from last year’s $20.4 million. The company also noted a 17% decrease in operating expenses, which totaled $17.8 million. These results come in the wake of Piper Sandler’s decision to decrease the price target for Vicarious Surgical from $12.00 to $10.50, while maintaining a neutral rating on the stock.
This adjustment follows the company’s announcement of an adjusted earnings per share (EPS) of -$2.87, which fell short of the projected -$2.58 EPS. Despite the reduced price target, Piper Sandler acknowledged the long-term potential of Vicarious Surgical’s differentiated technology.
In addition to its financial performance, Vicarious Surgical has been making strides in its technological advancements. The company is nearing the completion of its V1.0 system integration, a significant step towards treating its first patient within the next 12 months. Furthermore, Vicarious Surgical is selecting sites for an overseas clinical trial for ventral hernia, a move that aligns with the company’s strategy to advance its clinical programs and prepare for commercialization.
These recent developments highlight Vicarious Surgical’s commitment to innovation and financial stability, with a projected cash runway into 2026.
InvestingPro Insights
While Kelly William John’s recent sale of Vicarious Surgical Inc. (NYSE:RBOT) shares was relatively small and primarily for tax purposes, it’s worth examining the company’s current financial position to provide context for investors.
According to InvestingPro data, Vicarious Surgical has a market capitalization of $56.38 million USD, reflecting its status as a small-cap company in the medical technology sector. The stock’s performance has been mixed, with a strong 29.93%…
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