Microbot Medical Inc. (NASDAQ:MBOT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Microbot Medical Inc. (NASDAQ:MBOT) have been given an average rating of “Moderate Buy” by the five research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $7.50.

A number of analysts have commented on the stock. B. Riley Financial began coverage on shares of Microbot Medical in a report on Tuesday, February 10th. They set a “buy” rating for the company. Roth Mkm initiated coverage on Microbot Medical in a research report on Wednesday, December 3rd. They issued a “buy” rating and a $5.50 price target on the stock.

Hedge Funds Weigh In On Microbot Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. acquired a new position in shares of Microbot Medical during the 3rd quarter worth about $4,435,000. Heights Capital Management Inc. acquired a new stake in shares of Microbot Medical in the 3rd quarter valued at approximately $2,693,000. CIBC Private Wealth Group LLC boosted its stake in Microbot Medical by 137.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,454,000 shares of the biotechnology company’s stock worth $4,435,000 after acquiring an additional 842,000 shares during the last quarter. DNB Asset Management AS boosted its stake in Microbot Medical by 178.1% during the 4th quarter. DNB Asset Management AS now owns 677,498 shares of the biotechnology company’s stock worth $1,355,000 after acquiring an additional 433,869 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Microbot Medical by 14.3% during the third quarter. Vanguard Group Inc. now owns 2,343,561 shares of the biotechnology company’s stock valued at $7,148,000 after purchasing an additional 292,923 shares during the period. Institutional investors own 16.30% of the company’s stock.

Microbot Medical Trading Up 4.8%

Shares of NASDAQ MBOT opened at $2.41 on Wednesday. Microbot Medical has a 1 year low of $1.35 and a 1 year high of $4.67. The firm’s 50-day moving average is $2.26 and its 200-day moving average is $2.38. The firm has a market capitalization of $161.86 million, a PE ratio of -8.31 and a beta of 1.22.

Microbot Medical (NASDAQ:MBOT) last announced its quarterly earnings data on Thursday, March 26th. The biotechnology company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. As a group, equities research analysts anticipate that Microbot Medical will post -0.71 earnings per share for the current fiscal year.

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.