Microbot Medical (MBOT) Stock Price Down 5%

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Microbot Medical Inc (NASDAQ:MBOT)’s share price traded down 5% during mid-day trading on Tuesday . The stock traded as low as $8.60 and last traded at $8.74. 784,400 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 5,757,591 shares. The stock had previously closed at $9.20.

Several equities analysts recently issued reports on the company. ValuEngine cut Microbot Medical from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. LADENBURG THALM/SH SH cut Microbot Medical from a “buy” rating to a “hold” rating and set a $1.75 price target on the stock. in a report on Monday, November 19th. They noted that the move was a valuation call.

Microbot Medical (NASDAQ:MBOT) last released its earnings results on Wednesday, November 14th. The biotechnology company reported ($0.58) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.02.

In related news, major shareholder Alliance Investment Management bought 102,309 shares of the business’s stock in a transaction on Wednesday, January 16th. The shares were purchased at an average price of $3.70 per share, with a total value of $378,543.30. Following the completion of the purchase, the insider now owns 302,720 shares of the company’s stock, valued at approximately $1,120,064. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders acquired 183,621 shares of company stock worth $557,477 in the last three months. Insiders own 20.31% of the company’s stock.

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About Microbot Medical (NASDAQ:MBOT)

Microbot Medical Inc, a pre-clinical medical device company, researches, designs, and develops micro-robotics assisted medical technologies targeting the minimally invasive surgery space. The company, through its ViRob and TipCAT micro-robotic technologies, is developing two product candidates, including the Self Cleaning Shunt for the treatment of hydrocephalus and normal pressure hydrocephalus; and a self-propelling, semi-disposable endoscope, which is used in colonoscopy procedures.

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