Microbot Medical (NASDAQ:MBOT) Now Covered by Analysts at Citizens Jmp

Research analysts at Citizens Jmp assumed coverage on shares of Microbot Medical (NASDAQ:MBOT) in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm set a “market outperform” rating and a $2.50 price target on the biotechnology company’s stock. Citizens Jmp‘s price objective would indicate a potential upside of 165.42% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. B. Riley Financial started coverage on Microbot Medical in a report on Friday, September 11th. They set a “buy” rating and a $4.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Microbot Medical in a research note on Friday, October 2nd. Zacks Research cut Microbot Medical from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. UBS Group set a $2.50 price objective on Microbot Medical in a research report on Friday. Finally, Citigroup started coverage on shares of Microbot Medical in a research note on Friday. They set a “market outperform” rating on the stock. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $5.08.

Microbot Medical Price Performance

Shares of NASDAQ:MBOT opened at $0.94 on Friday. The business’s 50 day moving average price is $1.30 and its 200-day moving average price is $1.72. Microbot Medical has a 1 year low of $0.93 and a 1 year high of $2.85. The firm has a market capitalization of $63.27 million, a price-to-earnings ratio of -3.92 and a beta of 1.05.

Microbot Medical (NASDAQ:MBOT) last released its quarterly earnings data on Tuesday, August 11th. The biotechnology company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). The business had revenue of $0.24 million during the quarter, compared to analyst estimates of $0.13 million. On average, sell-side analysts expect that Microbot Medical will post -0.30 earnings per share for the current year.

Institutional Investors Weigh In On Microbot Medical

Several hedge funds have recently made changes to their positions in MBOT. Cetera Investment Advisers raised its stake in shares of Microbot Medical by 44.7% during the 1st quarter. Cetera Investment Advisers now owns 42,412 shares of the biotechnology company’s stock worth $102,000 after buying an additional 13,099 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Microbot Medical by 1,688.1% in the first quarter. Bank of America Corp DE now owns 75,799 shares of the biotechnology company’s stock valued at $183,000 after buying an additional 71,560 shares in the last quarter. CTC Alternative Strategies Ltd. purchased a new stake in shares of Microbot Medical in the first quarter valued at approximately $28,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Microbot Medical in the first quarter valued at approximately $54,000. Institutional investors and hedge funds own 16.30% of the company’s stock.

About Microbot Medical

Microbot Medical Inc (NASDAQ: MBOT) is a medical device company developing robotic and computer-assisted technologies for minimally invasive endovascular procedures. The company focuses on systems intended to help physicians navigate blood vessels and deliver interventional devices while potentially improving procedural control and reducing radiation exposure to medical personnel.

Microbot Medical’s primary product candidate is the LIBERTY Endovascular Robotic System, a single-use, disposable robotic platform designed to remotely control guidewires and catheters during vascular procedures.