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

Stock analysts at B. Riley Securities began coverage on shares of Microbot Medical (NASDAQ:MBOT) in a note issued to investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $5.00 price target on the biotechnology company’s stock. B. Riley Securities’ price target would suggest a potential upside of 171.74% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. B. Riley Financial began coverage on Microbot Medical in a research report on Tuesday. They set a “buy” rating on the stock. Roth Mkm initiated coverage on Microbot Medical in a research note on Wednesday, December 3rd. They issued a “buy” rating and a $5.50 price target for the company. Wall Street Zen downgraded shares of Microbot Medical from a “hold” rating to a “sell” rating in a report on Saturday, October 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Microbot Medical in a research note on Friday, November 28th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.50.

Microbot Medical Price Performance

Shares of NASDAQ MBOT opened at $1.84 on Tuesday. Microbot Medical has a 1-year low of $1.25 and a 1-year high of $4.67. The business has a fifty day moving average price of $2.10 and a 200 day moving average price of $2.62. The stock has a market capitalization of $123.57 million, a P/E ratio of -4.09 and a beta of 1.28.

Microbot Medical (NASDAQ:MBOT) last announced its earnings results on Wednesday, November 12th. The biotechnology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). As a group, equities research analysts anticipate that Microbot Medical will post -0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Microbot Medical

Several 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 valued at about $4,435,000. Heights Capital Management Inc. acquired a new stake in Microbot Medical during the third quarter worth about $2,693,000. CIBC Private Wealth Group LLC raised its position in Microbot Medical by 137.6% during the third quarter. CIBC Private Wealth Group LLC now owns 1,454,000 shares of the biotechnology company’s stock valued at $4,435,000 after acquiring an additional 842,000 shares in the last quarter. DNB Asset Management AS lifted its holdings in Microbot Medical by 178.1% in the fourth quarter. DNB Asset Management AS now owns 677,498 shares of the biotechnology company’s stock valued at $1,355,000 after acquiring an additional 433,869 shares during the period. Finally, Vanguard Group Inc. boosted its position 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 worth $7,148,000 after purchasing an additional 292,923 shares in the last quarter. 16.30% of the stock is owned by hedge funds and other institutional investors.

Microbot Medical Company Profile

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.