Microbot Medical (NASDAQ:MBOT) Issues Quarterly Earnings Results

Microbot Medical (NASDAQ:MBOT) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02, FiscalAI reports. The business had revenue of $0.04 million during the quarter, compared to analyst estimates of $0.11 million.

Microbot Medical Trading Down 8.8%

Shares of MBOT opened at $2.39 on Friday. The stock has a 50 day moving average of $2.25 and a 200 day moving average of $2.42. The company has a market capitalization of $160.51 million, a price-to-earnings ratio of -8.24 and a beta of 1.22. Microbot Medical has a 12 month low of $1.35 and a 12 month high of $4.67.

Analyst Ratings Changes

Several research analysts recently issued reports on MBOT shares. B. Riley Financial assumed coverage on Microbot Medical in a research note on Tuesday, February 10th. They set a “buy” rating on the stock. Roth Mkm initiated coverage on Microbot Medical in a research report on Wednesday, December 3rd. They set a “buy” rating and a $5.50 target price on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Microbot Medical in a report on Friday, November 28th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in Microbot Medical in the fourth quarter worth about $117,000. Invesco Ltd. purchased a new stake in shares of Microbot Medical during the 4th quarter worth approximately $49,000. XTX Topco Ltd bought a new stake in shares of Microbot Medical in the 4th quarter worth approximately $63,000. Man Group plc bought a new stake in shares of Microbot Medical in the 4th quarter worth approximately $35,000. Finally, Bridgeway Capital Management LLC purchased a new position in Microbot Medical in the fourth quarter valued at approximately $222,000. Institutional investors own 16.30% of the company’s stock.

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.