Zacks Research Downgrades Microbot Medical (NASDAQ:MBOT) to Hold

Microbot Medical (NASDAQ:MBOT) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities analysts have also commented on MBOT. Weiss Ratings reissued a “sell (d-)” rating on shares of Microbot Medical in a report on Wednesday, July 8th. HC Wainwright reaffirmed a “buy” rating on shares of Microbot Medical in a report on Wednesday. Wall Street Zen upgraded shares of Microbot Medical from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Loop Capital set a $4.00 target price on Microbot Medical in a research note on Wednesday, June 3rd. Finally, B. Riley Financial reissued a “buy” rating and issued a $4.00 target price (down from $5.00) on shares of Microbot Medical in a research note on Friday, August 14th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.38.

Microbot Medical Trading Up 0.7%

MBOT stock opened at $1.50 on Thursday. The company’s 50 day moving average is $1.78 and its 200 day moving average is $2.05. The stock has a market cap of $100.75 million, a price-to-earnings ratio of -6.25 and a beta of 1.06. Microbot Medical has a 1-year low of $1.44 and a 1-year high of $4.67.

Microbot Medical (NASDAQ:MBOT) last announced its earnings results on Tuesday, August 11th. The biotechnology company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). The company had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $0.13 million. As a group, sell-side analysts forecast that Microbot Medical will post -0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 292,923 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Microbot Medical by 1.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,480,000 shares of the biotechnology company’s stock valued at $2,960,000 after purchasing an additional 26,000 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Microbot Medical during the 3rd quarter valued at $4,435,000. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 268,609 shares during the last quarter. Finally, DNB Asset Management AS boosted its position in Microbot Medical by 178.1% during the fourth quarter. DNB Asset Management AS now owns 677,498 shares of the biotechnology company’s stock valued at $1,355,000 after buying an additional 433,869 shares during the period. 16.30% of the stock is currently owned by institutional investors.

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.