Microbot Medical Inc. (NASDAQ:MBOT) Stock Has Consensus Target Price of $6.38 According to Brokerages

Microbot Medical Inc. (NASDAQ:MBOT) has been assigned an average recommendation of “Hold” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research 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 brokers that have updated their coverage on the stock in the last year is $6.38.

MBOT has been the subject of several recent analyst reports. Loop Capital set a $4.00 target price on shares of Microbot Medical in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of Microbot Medical from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 19th. HC Wainwright reissued a “buy” rating on shares of Microbot Medical in a report on Wednesday, August 19th. B. Riley Financial initiated coverage on shares of Microbot Medical in a research report on Friday, September 11th. They issued a “buy” rating and a $4.00 price objective for the company. Finally, Zacks Research cut Microbot Medical from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th.

Hedge Funds Weigh In On Microbot Medical

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

Microbot Medical Price Performance

Microbot Medical stock opened at $1.27 on Wednesday. The business has a 50 day simple moving average of $1.57 and a 200-day simple moving average of $1.92. Microbot Medical has a 12 month low of $1.26 and a 12 month high of $3.46. The stock has a market capitalization of $85.64 million, a PE ratio of -5.31 and a beta of 1.03.

Microbot Medical (NASDAQ:MBOT) last posted its quarterly earnings data on Tuesday, August 11th. The biotechnology company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). The firm had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $0.13 million. As a group, equities research analysts anticipate 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.