Microbot Medical (NASDAQ:MBOT) Announces Earnings Results, Beats Estimates By $0.02 EPS

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

Microbot Medical Stock Down 8.8%

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Roth Mkm began coverage on Microbot Medical in a report on Wednesday, December 3rd. They set a “buy” rating and a $5.50 price objective for the company. B. Riley Financial began coverage on Microbot Medical in a research report on Tuesday, February 10th. They set a “buy” rating for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Microbot Medical in a research note on Friday, November 28th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.50.

Hedge Funds Weigh In On Microbot Medical

Several hedge funds and other institutional investors have recently made changes to their positions in MBOT. CIBC Bancorp USA Inc. acquired a new position in Microbot Medical during the third quarter worth $4,435,000. Vanguard Group Inc. grew its position in shares of 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 acquiring an additional 292,923 shares during the period. Geode Capital Management LLC increased its stake in shares of Microbot Medical by 54.4% during the 4th quarter. Geode Capital Management LLC now owns 761,995 shares of the biotechnology company’s stock worth $1,524,000 after purchasing an additional 268,609 shares during the last quarter. 683 Capital Management LLC acquired a new position in shares of Microbot Medical during the 4th quarter worth about $512,000. Finally, AlphaCentric Advisors LLC bought a new stake in shares of Microbot Medical in the 4th quarter valued at about $400,000. 16.30% of the stock is owned by 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.