PROCEPT BioRobotics (PRCT) stock experienced a significant 24-hour plunge of 6.90% during Thursday's trading session, reflecting heavy selling pressure.

The sharp decline follows the company's reported wider fourth-quarter net loss and revenue that fell short of analyst expectations. The disappointing financial results prompted immediate reactions from Wall Street, with BofA Securities downgrading the stock to underperform from neutral and Oppenheimer cutting its rating to Perform from Outperform while removing its $60 price target.

Adding to the negative sentiment, law firm Ademi LLP announced it is investigating potential securities fraud claims against the company. The probe focuses on whether Procept made inaccurate statements regarding its financial reporting, business operations, and sales practices for disposable handpieces used with its aquablation technology.