Microbot Medical (NASDAQ:MBOT) Earns Buy Rating from Analysts at B. Riley Financial

B. Riley Financial initiated coverage on shares of Microbot Medical (NASDAQ:MBOT) in a report released on Friday, MarketBeat.com reports. The firm issued a buy rating and a $4.00 price target on the biotechnology company’s stock.

A number of other analysts also recently issued reports on the company. Wall Street Zen downgraded Microbot Medical from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Microbot Medical in a research report on Wednesday, July 8th. Loop Capital set a $4.00 price objective on shares of Microbot Medical in a report on Wednesday, June 3rd. Zacks Research cut shares of Microbot Medical from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Microbot Medical in a research note on Wednesday, August 19th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.38.

Microbot Medical Price Performance

MBOT opened at $1.45 on Friday. The firm has a market capitalization of $97.40 million, a price-to-earnings ratio of -6.04 and a beta of 1.03. The company’s 50 day simple moving average is $1.67 and its two-hundred day simple moving average is $1.99. Microbot Medical has a 1-year low of $1.44 and a 1-year high of $4.19.

Microbot Medical (NASDAQ:MBOT) last posted its quarterly earnings results on Tuesday, August 11th. The biotechnology company reported ($0.08) earnings per share (EPS) 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. On average, equities analysts anticipate that Microbot Medical will post -0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Microbot Medical

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CIBC Bancorp USA Inc. purchased a new position in shares of Microbot Medical during the 3rd quarter worth $4,435,000. DNB Asset Management AS raised its holdings in Microbot Medical by 178.1% in the 4th 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. Vanguard Group Inc. raised its holdings in Microbot Medical by 14.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,343,561 shares of the biotechnology company’s stock valued at $7,148,000 after buying an additional 292,923 shares during the period. Geode Capital Management LLC raised its holdings in Microbot Medical by 54.4% in the 4th quarter. Geode Capital Management LLC now owns 761,995 shares of the biotechnology company’s stock valued at $1,524,000 after buying an additional 268,609 shares during the period. Finally, 683 Capital Management LLC acquired a new position in Microbot Medical in the fourth quarter valued at about $512,000. Hedge funds and other 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.