Microbot Medical (NASDAQ:MBOT) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Microbot Medical Inc. (NASDAQ:MBOT)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.48 and traded as high as $2.78. Microbot Medical shares last traded at $2.73, with a volume of 1,282,595 shares changing hands.

Wall Street Analysts Forecast Growth

MBOT has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Microbot Medical in a research report on Friday, November 28th. B. Riley Financial started coverage on shares of Microbot Medical in a research report on Tuesday, February 10th. They issued a “buy” rating for the company. Finally, Roth Mkm initiated coverage on Microbot Medical in a report on Wednesday, December 3rd. They set a “buy” rating and a $5.50 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Microbot Medical presently has a consensus rating of “Moderate Buy” and an average price target of $7.50.

Microbot Medical Trading Up 1.5%

The business’s fifty day moving average price is $2.17 and its 200 day moving average price is $2.48. The firm has a market capitalization of $183.35 million, a price-to-earnings ratio of -6.07 and a beta of 1.22.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MBOT. DNB Asset Management AS boosted its stake in shares of Microbot Medical by 67.9% during the second quarter. DNB Asset Management AS now owns 192,786 shares of the biotechnology company’s stock worth $486,000 after buying an additional 77,965 shares during the period. Man Group plc purchased a new position in shares of Microbot Medical during the fourth quarter worth about $35,000. Zacks Investment Management acquired a new position in Microbot Medical in the 3rd quarter valued at about $33,000. American Century Companies Inc. purchased a new stake in Microbot Medical during the 2nd quarter valued at approximately $32,000. Finally, Heights Capital Management Inc. purchased a new stake in Microbot Medical during the 3rd quarter valued at approximately $2,693,000. 16.30% of the stock is currently owned by institutional investors and hedge funds.

About Microbot Medical

Microbot Medical Inc (NASDAQ: MBOT) is a medical device company focused on the design, development and commercialization of micro-robotic platforms for minimally invasive procedures. Leveraging proprietary microbot technology, the company aims to navigate complex vascular and luminal pathways within the body to deliver therapy, retrieve tissue samples or perform diagnostic tasks in a precise, targeted manner.

Microbot Medical operates two primary technology divisions. Its endovascular platform is designed to traverse blood vessels and deliver clot-retrieval systems, drug payloads or cell-based therapies directly at the site of vascular injury, with applications in acute ischemic stroke and peripheral artery disease.