Microbot Medical (NASDAQ:MBOT) Stock Rating Cut to “Strong Sell” at Wall Street Zen

Microbot Medical (NASDAQ:MBOT) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Saturday, Wall Street Zen reports.

MBOT has been the topic of a number of other reports. B. Riley Financial initiated coverage on shares of Microbot Medical in a research report on Friday, September 11th. They set a “buy” rating and a $4.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Microbot Medical in a research note on Friday, October 2nd. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Microbot Medical in a research report on Wednesday. Zacks Research lowered shares of Microbot Medical from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Finally, UBS Group set a $2.50 price target on shares of Microbot Medical in a research report on Friday. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.08.

Microbot Medical Price Performance

Shares of NASDAQ:MBOT opened at $0.97 on Friday. The firm has a fifty day moving average price of $1.29 and a two-hundred day moving average price of $1.71. Microbot Medical has a one year low of $0.93 and a one year high of $2.85.

Microbot Medical (NASDAQ:MBOT) last released its earnings results on Tuesday, August 11th. The biotechnology company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). The firm had revenue of $0.24 million during the quarter, compared to the consensus estimate of $0.13 million. Sell-side analysts forecast that Microbot Medical will post -0.30 EPS for the current fiscal year.

Institutional Trading of Microbot Medical

Several institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in shares of Microbot Medical by 1,688.1% during the 1st 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 period. Private Advisor Group LLC acquired a new stake in Microbot Medical during the 1st quarter valued at $54,000. Cetera Investment Advisers increased its holdings in Microbot Medical by 44.7% during the 1st quarter. Cetera Investment Advisers now owns 42,412 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 13,099 shares during the last quarter. Finally, CTC Alternative Strategies Ltd. acquired a new position in Microbot Medical in the first quarter worth about $28,000. 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 developing robotic and computer-assisted technologies for minimally invasive endovascular procedures. The company focuses on systems intended to help physicians navigate blood vessels and deliver interventional devices while potentially improving procedural control and reducing radiation exposure to medical personnel.

Microbot Medical’s primary product candidate is the LIBERTY Endovascular Robotic System, a single-use, disposable robotic platform designed to remotely control guidewires and catheters during vascular procedures.