According to Zacks, “Microbot Medical Inc. is engaged in the research, design, development and commercialization of micro-robotics assisted medical technologies. Its product candidate includes the Self Cleaning Shunt for the treatment of hydrocephalus and Normal Pressure Hydrocephalus and TipCAT, a self-propelling, semi-disposable endoscope which is being developed initially for use in colonoscopy procedures. Microbot Medical Inc., formerly known as Stemcells, Inc., is headquartered in Hingham, MA. “
A number of other analysts have also recently issued reports on MBOT. HC Wainwright reiterated a buy rating and set a $10.00 target price on shares of Microbot Medical in a report on Wednesday, September 11th. ValuEngine cut Microbot Medical from a buy rating to a hold rating in a report on Wednesday, October 30th.
Microbot Medical (NASDAQ:MBOT) last issued its earnings results on Wednesday, August 14th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.09. On average, equities analysts expect that Microbot Medical will post -1.46 EPS for the current year.
Several large investors have recently modified their holdings of MBOT. Morgan Stanley grew its holdings in shares of Microbot Medical by 77.0% during the 2nd quarter. Morgan Stanley now owns 6,316 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 2,748 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Microbot Medical during the 2nd quarter worth about $45,000. BlackRock Inc. lifted its position in Microbot Medical by 5.7% during the 2nd quarter. BlackRock Inc. now owns 183,520 shares of the biotechnology company’s stock worth $945,000 after acquiring an additional 9,906 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Microbot Medical by 5.5% during the 2nd quarter. Renaissance Technologies LLC now owns 206,887 shares of the biotechnology company’s stock worth $1,065,000 after acquiring an additional 10,838 shares in the last quarter. Institutional investors and hedge funds own 14.84% of the company’s stock.
Microbot Medical Company Profile
Microbot Medical Inc, a pre-clinical medical device company, researches, designs, and develops micro-robotics assisted medical technologies targeting the minimally invasive surgery space. The company, through its ViRob and TipCAT micro-robotic technologies, is developing two product candidates, including the Self Cleaning Shunt for the treatment of hydrocephalus and normal pressure hydrocephalus; and a self-propelling, semi-disposable endoscope, which is used in colonoscopy procedures.
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