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

Microbot Medical (NASDAQ:MBOT) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate 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 Performance

Shares of MBOT 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. The firm has a fifty day moving average of $2.25 and a 200-day moving average of $2.42. Microbot Medical has a 1 year low of $1.35 and a 1 year high of $4.67.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MBOT shares. B. Riley Financial began coverage on Microbot Medical in a research report on Tuesday, February 10th. They set a “buy” rating on the stock. Roth Mkm assumed coverage on shares of Microbot Medical in a report on Wednesday, December 3rd. They issued a “buy” rating and a $5.50 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 target price 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 assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Zacks Investment Management acquired a new stake in Microbot Medical in the third quarter worth about $33,000. Squarepoint Ops LLC bought a new position in shares of Microbot Medical in the 3rd quarter valued at about $37,000. American Century Companies Inc. bought a new position in shares of Microbot Medical in the 2nd quarter valued at about $32,000. Wexford Capital LP bought a new stake in shares of Microbot Medical during the third quarter worth approximately $50,000. Finally, XTX Topco Ltd bought a new stake in shares of Microbot Medical during the second quarter worth approximately $43,000. Institutional investors own 16.30% of the company’s stock.

About Microbot Medical

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.