Microbot Medical (NASDAQ:MBOT) Coverage Initiated at B. Riley Securities

Equities researchers at B. Riley Securities initiated coverage on shares of Microbot Medical (NASDAQ:MBOT) in a report released on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $5.00 price target on the biotechnology company’s stock. B. Riley Securities’ price objective would suggest a potential upside of 150.00% from the stock’s current price.

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

Microbot Medical Stock Down 2.4%

NASDAQ:MBOT opened at $2.00 on Tuesday. Microbot Medical has a twelve month low of $1.25 and a twelve month high of $4.67. The stock’s 50-day simple moving average is $2.08 and its 200 day simple moving average is $2.61. The firm has a market capitalization of $134.32 million, a PE ratio of -4.44 and a beta of 1.28.

Microbot Medical (NASDAQ:MBOT) last posted 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). On average, analysts anticipate that Microbot Medical will post -0.71 EPS for the current fiscal year.

Institutional Trading of Microbot Medical

Several hedge funds have recently added to or reduced their stakes in the stock. DNB Asset Management AS lifted its stake in shares of Microbot Medical by 67.9% during the 2nd quarter. DNB Asset Management AS now owns 192,786 shares of the biotechnology company’s stock valued at $486,000 after buying an additional 77,965 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Microbot Medical by 137.6% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,454,000 shares of the biotechnology company’s stock worth $4,435,000 after buying an additional 842,000 shares during the last quarter. Heights Capital Management Inc. bought a new stake in Microbot Medical in the 3rd quarter worth approximately $2,693,000. Zacks Investment Management purchased a new stake in shares of Microbot Medical in the 3rd quarter valued at $33,000. Finally, Squarepoint Ops LLC bought a new position in shares of Microbot Medical during the third quarter valued at about $37,000. Institutional investors own 16.30% of the company’s stock.

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.