Microbot Medical’s (MBOT) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Microbot Medical (NASDAQ:MBOT) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $12.00 target price on the biotechnology company’s stock.

MBOT has been the subject of a number of other research reports. B. Riley Financial assumed coverage on shares of Microbot Medical in a report on Tuesday, February 10th. They issued a “buy” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Microbot Medical in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Microbot Medical has a consensus rating of “Moderate Buy” and an average target price of $7.50.

Microbot Medical Trading Up 3.4%

MBOT stock opened at $2.43 on Tuesday. The stock has a market capitalization of $163.20 million, a P/E ratio of -8.38 and a beta of 1.19. Microbot Medical has a 12 month low of $1.60 and a 12 month high of $4.67. The firm has a 50-day moving average price of $2.36 and a 200-day moving average price of $2.32.

Microbot Medical (NASDAQ:MBOT) last posted its earnings results on Sunday, March 22nd. The biotechnology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. As a group, equities analysts predict that Microbot Medical will post -0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MBOT. Goldman Sachs Group Inc. bought a new position in Microbot Medical in the 1st quarter valued at approximately $57,000. Geode Capital Management LLC raised its holdings in Microbot Medical by 24.7% in the 2nd quarter. Geode Capital Management LLC now owns 395,039 shares of the biotechnology company’s stock valued at $996,000 after buying an additional 78,121 shares during the last quarter. American Century Companies Inc. bought a new position in Microbot Medical in the 2nd quarter valued at approximately $32,000. XTX Topco Ltd bought a new position in Microbot Medical in the 2nd quarter valued at approximately $43,000. Finally, Vontobel Holding Ltd. bought a new position in Microbot Medical in the 3rd quarter valued at approximately $94,000. Institutional investors own 16.30% of the company’s stock.

Microbot Medical Company Profile

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.