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

Investment analysts at B. Riley Securities assumed coverage on shares of Microbot Medical (NASDAQ:MBOT) in a research note issued to investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $5.00 price target on the biotechnology company’s stock. B. Riley Securities’ price target would indicate a potential upside of 171.74% from the stock’s current price.

Several other equities research analysts have also commented on MBOT. Roth Mkm started coverage on shares of Microbot Medical in a report on Wednesday, December 3rd. They issued a “buy” rating and a $5.50 price target for the company. Wall Street Zen lowered shares of Microbot Medical from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Microbot Medical in a research report on Friday, November 28th. Finally, B. Riley Financial assumed coverage on shares of Microbot Medical in a research note on Tuesday. They issued a “buy” rating on the stock. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Microbot Medical currently has an average rating of “Moderate Buy” and an average price target of $7.50.

Microbot Medical Stock Up 4.5%

Shares of Microbot Medical stock opened at $1.84 on Tuesday. The firm has a market cap of $123.57 million, a PE ratio of -4.09 and a beta of 1.28. Microbot Medical has a twelve month low of $1.25 and a twelve month high of $4.67. The business has a 50-day moving average price of $2.10 and a 200 day moving average price of $2.62.

Microbot Medical (NASDAQ:MBOT) last issued its quarterly earnings data on Wednesday, November 12th. The biotechnology company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). On average, sell-side analysts expect that Microbot Medical will post -0.71 EPS for the current year.

Hedge Funds Weigh In On Microbot Medical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. purchased a new position in shares of Microbot Medical during the 3rd quarter worth $4,435,000. Heights Capital Management Inc. purchased a new stake in shares of Microbot Medical in the 3rd quarter valued at approximately $2,693,000. CIBC Private Wealth Group LLC increased its holdings in shares of Microbot Medical by 137.6% during 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. DNB Asset Management AS raised its position in shares of Microbot Medical by 178.1% during the 4th quarter. DNB Asset Management AS now owns 677,498 shares of the biotechnology company’s stock valued at $1,355,000 after buying an additional 433,869 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Microbot Medical by 14.3% in the third quarter. Vanguard Group Inc. now owns 2,343,561 shares of the biotechnology company’s stock valued at $7,148,000 after acquiring an additional 292,923 shares during the last quarter. Institutional investors and hedge funds 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.