Microbot Medical (NASDAQ:MBOT) Rating Lowered to Strong Sell at Wall Street Zen

Microbot Medical (NASDAQ:MBOT) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Microbot Medical in a research report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Microbot Medical in a report on Friday, October 2nd. UBS Group set a $2.50 price objective on shares of Microbot Medical in a report on Friday. Citigroup initiated coverage on shares of Microbot Medical in a research note on Friday. They issued a “market outperform” rating for the company. Finally, Zacks Research lowered Microbot Medical from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.08.

Microbot Medical Price Performance

NASDAQ:MBOT opened at $0.97 on Friday. Microbot Medical has a 1-year low of $0.93 and a 1-year high of $2.85. The company has a 50-day moving average of $1.29 and a 200 day moving average of $1.71. The firm has a market cap of $65.42 million, a PE ratio of -4.06 and a beta of 1.05.

Microbot Medical (NASDAQ:MBOT) last issued its earnings results on Tuesday, August 11th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $0.24 million for the quarter, compared to the consensus estimate of $0.13 million. Sell-side analysts anticipate that Microbot Medical will post -0.30 EPS for the current fiscal year.

Institutional Trading of Microbot Medical

Several hedge funds have recently modified their holdings of the company. CTC Alternative Strategies Ltd. purchased a new position in Microbot Medical in the first quarter worth $28,000. Cetera Investment Advisers increased its position in shares of Microbot Medical by 44.7% during the first quarter. Cetera Investment Advisers now owns 42,412 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 13,099 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of Microbot Medical during the first quarter worth $54,000. Finally, Bank of America Corp DE increased its position in shares of Microbot Medical by 1,688.1% during the first quarter. Bank of America Corp DE now owns 75,799 shares of the biotechnology company’s stock worth $183,000 after purchasing an additional 71,560 shares in the last quarter. 16.30% of the stock is owned by hedge funds and other institutional investors.

About Microbot Medical

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.