Microbot Medical (NASDAQ:MBOT) Coverage Initiated by Analysts at B. Riley Financial

Equities research analysts at B. Riley Financial began coverage on shares of Microbot Medical (NASDAQ:MBOT) in a research report issued on Friday. The brokerage set a “buy” rating and a $4.00 price target on the biotechnology company’s stock. B. Riley Financial’s price objective points to a potential upside of 169.36% from the company’s current price.

Several other equities research analysts have also weighed in on the stock. HC Wainwright reiterated a “buy” rating on shares of Microbot Medical in a report on Wednesday, August 19th. Loop Capital set a $4.00 price objective on shares of Microbot Medical in a research report on Wednesday, June 3rd. Wall Street Zen downgraded Microbot Medical from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Microbot Medical in a report on Wednesday, July 8th. Finally, Zacks Research cut Microbot Medical from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. Three investment 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. Based on data from MarketBeat, Microbot Medical has an average rating of “Hold” and an average target price of $6.38.

Microbot Medical Price Performance

Shares of Microbot Medical stock traded up $0.03 during trading on Friday, hitting $1.49. 46,747 shares of the company were exchanged, compared to its average volume of 1,423,936. The firm has a market capitalization of $99.75 million, a P/E ratio of -6.19 and a beta of 1.03. The firm’s fifty day moving average price is $1.68 and its 200 day moving average price is $2.00. Microbot Medical has a 1-year low of $1.44 and a 1-year high of $4.19.

Microbot Medical (NASDAQ:MBOT) last announced its quarterly earnings results on Tuesday, August 11th. The biotechnology company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). The firm had revenue of $0.24 million during the quarter, compared to analyst estimates of $0.13 million. As a group, equities research analysts anticipate that Microbot Medical will post -0.29 earnings per share for the current year.

Institutional Investors Weigh In On Microbot Medical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CTC Alternative Strategies Ltd. acquired a new stake in shares of Microbot Medical in the 1st quarter valued at about $28,000. American Century Companies Inc. acquired a new position in shares of Microbot Medical during the second quarter worth about $32,000. Zacks Investment Management bought a new position in shares of Microbot Medical during the third quarter worth about $33,000. Man Group plc bought a new position in shares of Microbot Medical during the fourth quarter worth about $35,000. Finally, Squarepoint Ops LLC acquired a new stake in Microbot Medical in the 3rd quarter valued at approximately $37,000. 16.30% of the stock is currently owned by institutional investors and hedge funds.

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.