Microbot Medical (NASDAQ:MBOT) Given “Buy” Rating at B. Riley Financial

B. Riley Financial restated their buy rating on shares of Microbot Medical (NASDAQ:MBOT) in a report released on Friday,Benzinga reports. They currently have a $4.00 price objective on the biotechnology company’s stock, down from their prior price objective of $5.00.

Several other equities research analysts also recently commented on MBOT. Wall Street Zen raised shares of Microbot Medical from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Loop Capital set a $4.00 price target on shares of Microbot Medical in a report on Wednesday, June 3rd. Zacks Research upgraded shares of Microbot Medical from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microbot Medical in a research note on Wednesday, July 8th. Finally, HC Wainwright reiterated a “buy” rating on shares of Microbot Medical in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Microbot Medical currently has an average rating of “Moderate Buy” and a consensus price target of $6.38.

Microbot Medical Trading Down 7.7%

NASDAQ MBOT opened at $1.55 on Friday. Microbot Medical has a 12 month low of $1.45 and a 12 month high of $4.67. The stock has a 50-day simple moving average of $1.81 and a 200 day simple moving average of $2.06. The company has a market capitalization of $104.11 million, a PE ratio of -6.46 and a beta of 1.06.

Microbot Medical (NASDAQ:MBOT) last issued its earnings results on Tuesday, August 11th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $0.24 million for the quarter, compared to the consensus estimate of $0.20 million. As a group, sell-side analysts predict that Microbot Medical will post -0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. acquired a new stake in Microbot Medical in the 1st quarter valued at approximately $57,000. Geode Capital Management LLC grew its stake in shares of Microbot Medical by 24.7% during the 2nd quarter. Geode Capital Management LLC now owns 395,039 shares of the biotechnology company’s stock worth $996,000 after acquiring an additional 78,121 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Microbot Medical during the 2nd quarter worth approximately $32,000. XTX Topco Ltd acquired a new stake in shares of Microbot Medical in the second quarter valued at approximately $43,000. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of Microbot Medical in the third quarter valued at approximately $98,000. 16.30% of the stock is owned by institutional investors and hedge funds.

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.