Investing.com — Short seller Spruce Point Capital Management expressed concern over Procept Biorobotics Corp (NASDAQ:PRCT)’s growth prospects, market size estimates, and safety of its robotic surgical procedures.
Shares of Procept is down 1.8% at $77 in premarket trading
Spruce Point estimated a potential 30%-60% downside for the stock, calling the company’s financial guidance and profitability path “overly optimistic.” It gave Procept a target price range of $29-$54 per share.
While alleging overstatements in the company’s addressable market report said “we believe Procept dramatically overestimates its addressable market and that investors underappreciate structural growth inhibitors”
