Microbot Medical (NASDAQ:MBOT) Upgraded at Zacks Research

Zacks Research upgraded shares of Microbot Medical (NASDAQ:MBOT) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Microbot Medical in a report on Wednesday, July 8th. Wall Street Zen raised shares of Microbot Medical from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. HC Wainwright restated a “buy” rating on shares of Microbot Medical in a research note on Tuesday, July 14th. Finally, Loop Capital set a $4.00 price objective on shares of Microbot Medical in a research note on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $6.62.

Microbot Medical Stock Down 2.8%

MBOT stock opened at $1.71 on Wednesday. The company has a quick ratio of 21.93, a current ratio of 22.59 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $1.84 and a two-hundred day moving average price of $2.10. The company has a market cap of $114.86 million, a price-to-earnings ratio of -6.58 and a beta of 1.04. Microbot Medical has a twelve month low of $1.60 and a twelve month high of $4.67.

Microbot Medical (NASDAQ:MBOT) last posted its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $0.11 million for the quarter, compared to analyst estimates of $0.30 million. Analysts anticipate that Microbot Medical will post -0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Microbot Medical

A number of large investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its holdings in Microbot Medical by 38.8% during the 4th quarter. Cetera Investment Advisers now owns 29,313 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 8,201 shares during the last quarter. Zacks Investment Management acquired a new position in shares of Microbot Medical in the third quarter valued at $33,000. CTC Alternative Strategies Ltd. acquired a new position in shares of Microbot Medical in the first quarter valued at $28,000. Squarepoint Ops LLC bought a new position in shares of Microbot Medical in the third quarter valued at about $37,000. Finally, American Century Companies Inc. bought a new position in shares of Microbot Medical in the second quarter valued at about $32,000. Institutional investors own 16.30% of the company’s stock.

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.