DNB Asset Management AS Buys 433,869 Shares of Microbot Medical Inc. $MBOT

DNB Asset Management AS raised its stake in shares of Microbot Medical Inc. (NASDAQ:MBOT) by 178.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 677,498 shares of the biotechnology company’s stock after purchasing an additional 433,869 shares during the quarter. DNB Asset Management AS’s holdings in Microbot Medical were worth $1,355,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cornerstone Advisory LLC bought a new position in shares of Microbot Medical during the 3rd quarter worth about $30,000. American Century Companies Inc. bought a new stake in Microbot Medical in the second quarter valued at about $32,000. Zacks Investment Management bought a new stake in Microbot Medical in the third quarter valued at about $33,000. Squarepoint Ops LLC bought a new stake in Microbot Medical in the third quarter valued at about $37,000. Finally, Foundations Investment Advisors LLC bought a new stake in Microbot Medical in the third quarter valued at about $38,000. Institutional investors own 16.30% of the company’s stock.

Microbot Medical Price Performance

NASDAQ:MBOT opened at $1.74 on Thursday. The company has a quick ratio of 21.93, a current ratio of 22.59 and a debt-to-equity ratio of 0.01. The firm has a market cap of $116.88 million, a PE ratio of -6.69 and a beta of 1.06. Microbot Medical Inc. has a 12 month low of $1.60 and a 12 month high of $4.67. The company’s 50-day moving average price is $2.32 and its two-hundred day moving average price is $2.20.

Microbot Medical (NASDAQ:MBOT) last issued its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $0.11 million for the quarter, compared to the consensus estimate of $0.30 million. On average, equities analysts anticipate that Microbot Medical Inc. will post -0.31 EPS for the current fiscal year.

Analyst Ratings Changes

MBOT has been the topic of a number of analyst reports. Wall Street Zen raised shares of Microbot Medical from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Microbot Medical in a research note on Friday, April 10th. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Microbot Medical in a research note on Tuesday, April 14th. Finally, B. Riley Financial initiated coverage on shares of Microbot Medical in a research note on Tuesday, February 10th. They issued a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Microbot Medical presently has an average rating of “Moderate Buy” and a consensus target price of $7.50.

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.