Microbot Medical Inc. (NASDAQ:MBOT) Receives $7.50 Average Price Target from Brokerages

Microbot Medical Inc. (NASDAQ:MBOT) has earned an average rating of “Moderate Buy” from the five analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $7.50.

A number of equities research analysts have recently issued reports on the stock. B. Riley Financial assumed coverage on shares of Microbot Medical in a report on Tuesday, February 10th. They issued a “buy” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Microbot Medical in a report on Tuesday, April 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Microbot Medical in a report on Friday, April 10th. Finally, Wall Street Zen raised shares of Microbot Medical from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th.

Microbot Medical Trading Down 5.5%

Shares of Microbot Medical stock opened at $1.71 on Thursday. Microbot Medical has a 12-month low of $1.60 and a 12-month high of $4.67. The company has a market cap of $114.85 million, a price-to-earnings ratio of -6.58 and a beta of 1.06. The company has a current ratio of 22.59, a quick ratio of 21.93 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $2.22 and its 200-day moving average price is $2.18.

Microbot Medical (NASDAQ:MBOT) last announced its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $0.11 million during the quarter, compared to analysts’ expectations of $0.30 million. On average, equities analysts expect that Microbot Medical will post -0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MBOT. CIBC Bancorp USA Inc. bought a new position in shares of Microbot Medical in the third quarter worth approximately $4,435,000. Heights Capital Management Inc. bought a new position in shares of Microbot Medical in the third quarter worth approximately $2,693,000. CIBC Private Wealth Group LLC increased its position in shares of Microbot Medical by 137.6% in the third quarter. CIBC Private Wealth Group LLC now owns 1,454,000 shares of the biotechnology company’s stock worth $4,435,000 after purchasing an additional 842,000 shares during the last quarter. DNB Asset Management AS increased its position in shares of Microbot Medical by 178.1% in the fourth quarter. DNB Asset Management AS now owns 677,498 shares of the biotechnology company’s stock worth $1,355,000 after purchasing an additional 433,869 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Microbot Medical by 14.3% in the third quarter. Vanguard Group Inc. now owns 2,343,561 shares of the biotechnology company’s stock worth $7,148,000 after purchasing an additional 292,923 shares during the last quarter. 16.30% of the stock is currently owned by institutional investors.

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.