Microbot Medical (NASDAQ:MBOT) Research Coverage Started at Citizens Jmp

Citizens Jmp assumed coverage on shares of Microbot Medical (NASDAQ:MBOT) in a report released on Friday, MarketBeat Ratings reports. The firm issued a market outperform rating and a $2.50 price target on the biotechnology company’s stock.

Several other research analysts also recently commented on the company. Citigroup started coverage on Microbot Medical in a research note on Friday. They issued a “market outperform” rating for the company. B. Riley Financial initiated coverage on shares of Microbot Medical in a research note on Friday, September 11th. They set a “buy” rating and a $4.00 target price on the stock. UBS Group set a $2.50 target price on shares of Microbot Medical in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microbot Medical in a report on Friday, October 2nd. Finally, Zacks Research cut shares of Microbot Medical from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $5.08.

Microbot Medical Price Performance

Shares of Microbot Medical stock opened at $0.97 on Friday. The business has a 50 day simple moving average of $1.29 and a two-hundred day simple moving average of $1.71. Microbot Medical has a 12 month low of $0.93 and a 12 month high of $2.85. The stock has a market capitalization of $65.42 million, a P/E ratio of -4.06 and a beta of 1.05.

Microbot Medical (NASDAQ:MBOT) last released its earnings results on Tuesday, August 11th. The biotechnology company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate 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, research analysts anticipate that Microbot Medical will post -0.30 EPS for the current fiscal year.

Institutional Trading of Microbot Medical

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted 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 last quarter. Cetera Investment Advisers grew its holdings in shares of Microbot Medical by 44.7% in the first quarter. Cetera Investment Advisers now owns 42,412 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 13,099 shares during the period. CTC Alternative Strategies Ltd. purchased a new stake in shares of Microbot Medical in the first quarter valued at about $28,000. Finally, Private Advisor Group LLC acquired a new stake in Microbot Medical during the first quarter worth about $54,000. 16.30% of the stock is owned by institutional investors and hedge funds.

Microbot Medical Company Profile

Microbot Medical Inc (NASDAQ: MBOT) is a medical-device company developing robotic technologies for minimally invasive vascular procedures. Its systems are designed to help physicians remotely control guidewires and catheters during endovascular interventions, with the potential to improve procedural control and reduce clinicians’ exposure to radiation.

The company’s primary product candidate is the LIBERTY Endovascular Robotic System, a compact, single-use robotic platform intended to support peripheral and neurovascular procedures.