Microbot Medical (NASDAQ:MBOT) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Microbot Medical (NASDAQ:MBOT) from a sell rating to a strong sell rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other brokerages have also commented on MBOT. Zacks Research lowered shares of Microbot Medical from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Citizens Jmp assumed coverage on shares of Microbot Medical in a report on Friday. They issued a “market outperform” rating and a $2.50 target price for the company. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Microbot Medical in a research report on Wednesday, October 21st. Citigroup started coverage on Microbot Medical in a research report on Friday. They issued a “market outperform” rating on the stock. Finally, B. Riley Financial assumed coverage on Microbot Medical in a research note on Friday, September 11th. They set a “buy” rating and a $4.00 price target on the stock. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.08.

Microbot Medical Trading Down 3.3%

Shares of NASDAQ MBOT opened at $0.94 on Friday. The firm has a 50-day simple moving average of $1.29 and a 200-day simple moving average of $1.87. Microbot Medical has a 52 week low of $0.93 and a 52 week high of $2.85.

Microbot Medical (NASDAQ:MBOT) last announced its quarterly earnings data on Tuesday, August 11th. The biotechnology company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). The company had revenue of $0.24 million for the quarter, compared to analysts’ expectations of $0.13 million. Analysts anticipate that Microbot Medical will post -0.30 EPS for the current fiscal year.

Institutional Investors Weigh In On Microbot Medical

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

Microbot Medical Company Profile

Microbot Medical Inc (NASDAQ: MBOT) is a medical-device company developing robotic technologies for minimally invasive vascular procedures. Its systems are designed to help physicians remotely control guidewires and catheters during endovascular interventions, with the potential to improve procedural control and reduce clinicians’ exposure to radiation.

The company’s primary product candidate is the LIBERTY Endovascular Robotic System, a compact, single-use robotic platform intended to support peripheral and neurovascular procedures.