Brokerages Set Microbot Medical Inc. (NASDAQ:MBOT) Target Price at $6.62

Shares of Microbot Medical Inc. (NASDAQ:MBOT) have been given an average recommendation of “Moderate Buy” by the five research firms that are currently covering the stock, Marketbeat.com 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 assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $6.6250.

Several analysts recently commented on MBOT shares. HC Wainwright reissued a “buy” rating on shares of Microbot Medical in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microbot Medical in a 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, May 16th. Finally, Loop Capital set a $4.00 target price on Microbot Medical in a report on Wednesday, June 3rd.

Microbot Medical Price Performance

Shares of Microbot Medical stock opened at $1.87 on Friday. Microbot Medical has a 52 week low of $1.60 and a 52 week high of $4.67. 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 stock has a market cap of $125.61 million, a PE ratio of -7.19 and a beta of 1.04. The company’s 50-day moving average price is $1.89 and its two-hundred day moving average price is $2.11.

Microbot Medical (NASDAQ:MBOT) last posted its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business had revenue of $0.11 million for the quarter, compared to the consensus estimate of $0.30 million. As a group, sell-side analysts anticipate that Microbot Medical will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On Microbot Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Microbot Medical by 14.3% in the 3rd 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 in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of Microbot Medical by 1.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,480,000 shares of the biotechnology company’s stock worth $2,960,000 after buying an additional 26,000 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of Microbot Medical in the third quarter worth about $4,435,000. Heights Capital Management Inc. purchased a new position in shares of Microbot Medical in the third quarter worth approximately $2,693,000. Finally, Geode Capital Management LLC increased its position in shares of Microbot Medical by 54.4% in the fourth quarter. Geode Capital Management LLC now owns 761,995 shares of the biotechnology company’s stock worth $1,524,000 after acquiring an additional 268,609 shares in the last quarter. Institutional investors and hedge funds own 16.30% of the company’s stock.

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.