Microbot Medical (NASDAQ:MBOT) Posts Earnings Results, Beats Estimates By $0.03 EPS

Microbot Medical (NASDAQ:MBOT) released its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03, FiscalAI reports. The company had revenue of $0.11 million for the quarter, compared to analysts’ expectations of $0.30 million.

Microbot Medical Trading Down 1.1%

Shares of MBOT opened at $1.82 on Tuesday. The firm has a 50 day simple moving average of $2.12 and a 200-day simple moving average of $2.18. The stock has a market cap of $122.24 million, a price-to-earnings ratio of -7.00 and a beta of 1.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 22.59 and a quick ratio of 21.93. Microbot Medical has a 1-year low of $1.60 and a 1-year high of $4.67.

Institutional Trading of Microbot Medical

A number of hedge funds have recently bought and sold shares of MBOT. American Century Companies Inc. acquired a new position in Microbot Medical in the 2nd quarter valued at $32,000. Zacks Investment Management purchased a new position in shares of Microbot Medical during the 3rd quarter worth about $33,000. Man Group plc purchased a new position in shares of Microbot Medical during the 4th quarter worth about $35,000. Squarepoint Ops LLC acquired a new stake in shares of Microbot Medical in the third quarter worth approximately $37,000. Finally, XTX Topco Ltd purchased a new stake in Microbot Medical in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 16.30% of the company’s stock.

Analysts Set New Price Targets

MBOT has been the topic of several analyst reports. B. Riley Financial initiated coverage on Microbot Medical in a research note on Tuesday, February 10th. They issued a “buy” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Microbot Medical in a research note on Friday, April 10th. Loop Capital set a $4.00 price target on Microbot Medical in a report on Wednesday, June 3rd. Wall Street Zen upgraded shares of Microbot Medical from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Microbot Medical in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.62.

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.