When it comes to Movano Inc.’s (NASDAQ:MOVE) stock price, investors have taken a beating as the stock has tanked -52.25% YTD. However, while some may have already cut their losses and moved on, Benchmark Co. has taken center stage with a silver lining that amounts to a staggering 404% upside for Movano. 

(Source: Giphy) 

The silver lining? Two words: Evie Ring. This circlet of joy that sounds like a Lord of the Rings spinoff is none other than a high-tech piece of wearable magic aimed at women's health. 

(Source: PR Newswire) 

And right now, while the stock is sitting at a measly 0.40 cents a share, Movano is gunning for FDA approval on this baby that’s supposed to measure blood oxygen saturation and heart rate with the precision of a Swiss watchmaker. 

This has Bruce Jackson from Benchmark saying this device "opens the market for professional use by doctors and medical researchers." Translation: it's a big deal. 

(Source: Benzinga) 

With that said Benchmark has set its price target on Movano at a whopping $2.00. But in addition to the hype of the Evie Ring, this also follows the company's positive $24 million private placement they secured back in April (which is rather large for a company that’s been flying under the radar). 

(Source: Movano Inc.) 

This cash infusion came from a mix of a tier-one medical device company, institutional investors, and even Movano's own management team. CEO John Mastrototaro called it a "pivotal moment," which is corporate speak for "Holy sh*t, we might actually pull this off."

(Source: Giphy) 

Now of course, it’s not just the Evie Ring that has Benchmark more excited than a teenager on TikTok. The overall industry that Movano is nestled in is also set to explode over the long run, as the global women's health app market is expected to hit $18.19 billion by 2032, growing at a CAGR of 18.80%. (Read: High tides lift all boats).

(Source: Yahoo Finance) 

And with the expected FDA approval on their Evie Ring, Movano aims to carve out a niche in this booming market by offering something unique: a medical-grade device specifically designed for women.

For this reason, Wall Streeters are quietly accumulating their positions into Movano as 41 funds have increased their average portfolio weight dedicated to the stock by 46.21%. In fact, Dorsey & Whitney Trust Co. holds the largest chunk with 3.754 million shares, representing a 4.13% ownership as they expect massive momentum after Movano’s full scale commercial launch of the Evie later this year. 

(Source: Investing.com) 

(For context, Movano’s soft launch in Q4 2023 generated $1 million in sales in just 10 days. Not bad, but according to Benchmark, the sales are set to be even more massive following an FDA stamp). 

(Source: Giphy) 

But as expected, this is a small cap stock, and it’s small for a reason. As mentioned at the beginning of this article, Movano's stock has tanked more than 50% year to date. And while a 404% upside sounds like a dream, it comes with a heavy dose of risk. Meaning Benchmark’s  "speculative buy" is also speculative for a reason. Simply put, the success of the Evie Ring hinges on FDA approval, market adoption, and a whole lot of execution. 

(Source: Giphy) 

So given all the hype, is Movano's stock really headed for a 404% gain? Well my friends, it's a high-risk, high-reward scenario. If you're the kind of investor who likes to bet on the dark horse, Movano might just be your ticket, especially as the stock is up +5.84% on the day (+37.24% MTD). 

But remember, this is not a sure thing. It's a calculated gamble that could be as risky as eating gas station sushi… brotha ewww. 

In the meantime though, it’s still worth investors attention to keep an eye on Movano’s FDA approval and their upcoming product launch. If Movano can pull this off, we might just be looking at the next big thing in women's health tech. And if they don't? Well, there's always the next speculative buy around the corner. 

(Source: Giphy) 

As for me, I’m no fortune teller. I’m just a financial writer with a caffeine addiction and a penchant for bad puns. So whether you’re in or you’re out is entirely up to you… but regardless of whether Movano skyrockets or crashes harder than the Hindenburg, time (as always) will be the ultimate tell. Until next time friends… 

Stocks.News doesn't hold any positions in companies mentioned in the article.