Microbot Medical Inc. (NASDAQ:MBOT) Stock Has Average Target Price of $6.38

Microbot Medical Inc. (NASDAQ:MBOT) has been assigned an average recommendation of “Hold” from the five research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.38.

A number of analysts recently weighed in on MBOT shares. Zacks Research downgraded Microbot Medical from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Loop Capital set a $4.00 target price on Microbot Medical in a report on Wednesday, June 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Microbot Medical in a research report on Wednesday, July 8th. Wall Street Zen raised Microbot Medical from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 19th. Finally, B. Riley Financial assumed coverage on Microbot Medical in a report on Friday, September 11th. They issued a “buy” rating and a $4.00 target price on the stock.

Institutional Investors Weigh In On Microbot Medical

A number of institutional investors have recently modified their holdings of MBOT. CTC Alternative Strategies Ltd. bought a new position in Microbot Medical during the first quarter worth $28,000. Bank of America Corp DE boosted its position in Microbot Medical by 1,688.1% during the first quarter. Bank of America Corp DE now owns 75,799 shares of the biotechnology company’s stock valued at $183,000 after acquiring an additional 71,560 shares during the last quarter. Cetera Investment Advisers boosted its position in Microbot Medical by 44.7% during the first quarter. Cetera Investment Advisers now owns 42,412 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 13,099 shares during the last quarter. Private Advisor Group LLC acquired a new stake in Microbot Medical during the 1st quarter worth about $54,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Microbot Medical during the 4th quarter worth about $65,000. 16.30% of the stock is owned by institutional investors.

Microbot Medical Price Performance

MBOT opened at $1.27 on Wednesday. Microbot Medical has a fifty-two week low of $1.26 and a fifty-two week high of $3.46. The firm has a market capitalization of $85.64 million, a price-to-earnings ratio of -5.31 and a beta of 1.03. The company’s 50 day moving average price is $1.57 and its two-hundred day moving average price is $1.92.

Microbot Medical (NASDAQ:MBOT) last released its quarterly earnings results on Tuesday, August 11th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $0.24 million for the quarter, compared to the consensus estimate of $0.13 million. As a group, equities research analysts predict that Microbot Medical will post -0.3 EPS for the current year.

About Microbot Medical

Microbot Medical Inc is a medical-device company focused on developing robotic and computer-assisted technologies for minimally invasive vascular procedures. The company’s primary product candidate is the LIBERTY Endovascular Robotic System, a compact, single-use system designed to enable physicians to remotely control the navigation and positioning of guidewires and catheters during endovascular interventions.

LIBERTY is intended to support procedures involving the peripheral and coronary vasculature while potentially reducing physician exposure to radiation and improving procedural control.