Microbot Medical (NASDAQ:MBOT) Posts Quarterly Earnings Results

Microbot Medical (NASDAQ:MBOT) posted its earnings results on Tuesday. The biotechnology company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08), FiscalAI reports. The firm had revenue of $0.24 million for the quarter, compared to analyst estimates of $0.33 million.

Microbot Medical Price Performance

MBOT traded down $0.26 during trading on Tuesday, reaching $1.68. 891,568 shares of the stock were exchanged, compared to its average volume of 1,525,497. The company has a debt-to-equity ratio of 0.01, a current ratio of 22.59 and a quick ratio of 21.93. The company has a market capitalization of $112.51 million, a price-to-earnings ratio of -6.44 and a beta of 1.06. Microbot Medical has a 1 year low of $1.60 and a 1 year high of $4.67. The business’s 50 day moving average price is $1.83 and its two-hundred day moving average price is $2.07.

Institutional Investors Weigh In On Microbot Medical

Several institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. acquired a new position in Microbot Medical during the first quarter worth about $57,000. Geode Capital Management LLC grew its position in shares of Microbot Medical by 24.7% in the second quarter. Geode Capital Management LLC now owns 395,039 shares of the biotechnology company’s stock valued at $996,000 after purchasing an additional 78,121 shares during the last quarter. American Century Companies Inc. purchased a new position in shares of Microbot Medical during the 2nd quarter worth approximately $32,000. XTX Topco Ltd purchased a new position in shares of Microbot Medical during the 2nd quarter worth approximately $43,000. Finally, Envestnet Asset Management Inc. acquired a new position in shares of Microbot Medical during the 3rd quarter worth approximately $98,000. 16.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MBOT has been the topic of several research analyst reports. Zacks Research raised Microbot Medical from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microbot Medical in a report on Wednesday, July 8th. Loop Capital set a $4.00 price objective on shares of Microbot Medical in a research note on Wednesday, June 3rd. HC Wainwright reiterated a “buy” rating on shares of Microbot Medical in a research note on Tuesday, July 14th. Finally, Wall Street Zen raised shares of Microbot Medical from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $6.62.

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.