HC Wainwright Trims Microbot Medical (NASDAQ:MBOT) Target Price to $7.00

Microbot Medical (NASDAQ:MBOT) had its target price reduced by HC Wainwright from $8.00 to $7.00 in a research report sent to investors on Tuesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock. HC Wainwright also issued estimates for Microbot Medical’s Q1 2024 earnings at ($0.17) EPS, Q2 2024 earnings at ($0.16) EPS, Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.13) EPS and FY2024 earnings at ($0.61) EPS.

Microbot Medical Price Performance

Shares of MBOT opened at $0.87 on Tuesday. The company has a market capitalization of $12.46 million, a PE ratio of -0.80 and a beta of 1.64. Microbot Medical has a one year low of $0.86 and a one year high of $4.37. The company’s fifty day moving average price is $1.19 and its 200 day moving average price is $1.28.

Microbot Medical (NASDAQ:MBOT) last announced its earnings results on Wednesday, March 27th. The biotechnology company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.01). Analysts anticipate that Microbot Medical will post -0.61 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Microbot Medical by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 92,451 shares of the biotechnology company’s stock worth $442,000 after purchasing an additional 3,609 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Microbot Medical by 28.0% during the 2nd quarter. Renaissance Technologies LLC now owns 20,095 shares of the biotechnology company’s stock worth $103,000 after purchasing an additional 4,400 shares during the period. Cetera Advisor Networks LLC bought a new position in shares of Microbot Medical during the 1st quarter worth about $78,000. Wells Fargo & Company MN increased its holdings in shares of Microbot Medical by 6,713.4% during the 2nd quarter. Wells Fargo & Company MN now owns 12,741 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 12,554 shares during the period. Finally, Virtu Financial LLC boosted its position in shares of Microbot Medical by 75.9% during the 4th quarter. Virtu Financial LLC now owns 42,046 shares of the biotechnology company’s stock valued at $69,000 after acquiring an additional 18,138 shares in the last quarter. Institutional investors own 16.30% of the company’s stock.

Microbot Medical Company Profile

Microbot Medical Inc operates as a pre-clinical medical device company in the United Kingdom. It primarily engages in the research, design, and development of next generation robotic endoluminal surgery devices targeting the minimally invasive surgery space. The company also 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.