HC Wainwright Trims Microbot Medical (NASDAQ:MBOT) Target Price to $7.00

Microbot Medical (NASDAQ:MBOT) had its price objective decreased by HC Wainwright from $8.00 to $7.00 in a research note published on Tuesday, Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

Microbot Medical Trading Down 7.9 %

Shares of Microbot Medical stock opened at $0.95 on Tuesday. The company has a market capitalization of $13.66 million, a PE ratio of -0.88 and a beta of 1.64. Microbot Medical has a 12 month low of $0.93 and a 12 month high of $4.37. The stock’s fifty day simple moving average is $1.21 and its 200 day simple moving average is $1.29.

Institutional Trading of Microbot Medical

Hedge funds and other institutional investors have recently modified their holdings of the company. Armistice Capital LLC acquired a new stake in shares of Microbot Medical in the 4th quarter valued at about $2,077,000. Vanguard Group Inc. raised its stake in shares of Microbot Medical by 75.8% in the 4th quarter. Vanguard Group Inc. now owns 459,549 shares of the biotechnology company’s stock valued at $754,000 after purchasing an additional 198,213 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Microbot Medical by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 92,451 shares of the biotechnology company’s stock valued at $442,000 after purchasing an additional 3,609 shares during the period. Renaissance Technologies LLC raised its stake in shares of Microbot Medical by 330.0% in the 2nd quarter. Renaissance Technologies LLC now owns 87,695 shares of the biotechnology company’s stock valued at $239,000 after purchasing an additional 67,300 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Microbot Medical by 242.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 52,738 shares of the biotechnology company’s stock valued at $143,000 after purchasing an additional 37,346 shares during the period. Institutional investors and hedge funds own 16.30% of the company’s stock.

About Microbot Medical

Microbot Medical Inc operates as a pre-clinical medical device company in the United Kingdom. It primarily engages in the research, design, and development of next generation robotic endoluminal surgery devices targeting the minimally invasive surgery space. The company also offers LIBERTY, an endovascular robotic surgical system which allows physicians to conduct a catheter-based procedure from outside the catheterization laboratory, and avoid radiation exposure, physical strain, and the risk of cross contamination for use in cardiovascular, peripheral, and neurovascular spaces.