Microbot Medical (NASDAQ:MBOT) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Microbot Medical (NASDAQ:MBOT) issued its quarterly earnings data on Wednesday. The biotechnology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01), Zacks reports.

Microbot Medical Price Performance

Shares of MBOT stock opened at $2.12 on Thursday. The company has a market capitalization of $142.37 million, a PE ratio of -3.66 and a beta of 1.22. Microbot Medical has a 12 month low of $0.89 and a 12 month high of $4.67. The firm’s 50-day moving average is $2.93 and its two-hundred day moving average is $2.82.

Institutional Investors Weigh In On Microbot Medical

Institutional investors and hedge funds have recently modified their holdings of the company. American Century Companies Inc. acquired a new stake in shares of Microbot Medical during the second quarter worth about $32,000. XTX Topco Ltd purchased a new stake in Microbot Medical during the 2nd quarter worth approximately $43,000. Goldman Sachs Group Inc. acquired a new stake in Microbot Medical during the 1st quarter worth approximately $57,000. Envestnet Asset Management Inc. acquired a new stake in Microbot Medical during the 3rd quarter worth approximately $98,000. Finally, Geode Capital Management LLC boosted its position 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 period. Hedge funds and other institutional investors own 16.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Zacks Research lowered Microbot Medical from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Microbot Medical in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microbot Medical in a research note on Wednesday, October 8th. Finally, Wall Street Zen lowered Microbot Medical from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Microbot Medical has a consensus rating of “Hold” and an average price target of $12.00.

About Microbot Medical

Microbot Medical Inc, a pre-clinical medical device company, engages in the research, design, and development of robotic endoluminal surgery devices targeting the minimally invasive surgery space. The company offers LIBERTY, an endovascular robotic surgical system which allows physicians to conduct a catheter-based procedure from outside the catheterization laboratory, and avoid radiation exposure, physical strain, and the risk of cross contamination for use in cardiovascular, peripheral, and neurovascular spaces.