Microbot Medical (NASDAQ:MBOT) PT Lowered to $7.00 at HC Wainwright

Microbot Medical (NASDAQ:MBOT) had its price target reduced by stock analysts at HC Wainwright from $8.00 to $7.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock.

Microbot Medical Price Performance

Microbot Medical stock opened at $1.03 on Tuesday. The firm has a 50 day simple moving average of $1.22 and a 200-day simple moving average of $1.29. The stock has a market capitalization of $14.83 million, a PE ratio of -0.95 and a beta of 1.64. Microbot Medical has a 12-month low of $1.00 and a 12-month high of $4.37.

Institutional Trading of Microbot Medical

Large investors have recently added to or reduced their stakes in the business. Armistice Capital LLC bought a new stake in Microbot Medical during the fourth quarter worth approximately $2,077,000. Vanguard Group Inc. boosted its holdings in Microbot Medical by 75.8% during the fourth quarter. Vanguard Group Inc. now owns 459,549 shares of the biotechnology company’s stock worth $754,000 after buying an additional 198,213 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Microbot Medical by 4.1% during the third quarter. Dimensional Fund Advisors LP now owns 92,451 shares of the biotechnology company’s stock worth $442,000 after buying an additional 3,609 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Microbot Medical by 330.0% during the second quarter. Renaissance Technologies LLC now owns 87,695 shares of the biotechnology company’s stock worth $239,000 after buying an additional 67,300 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Microbot Medical by 242.6% during the second quarter. Bank of New York Mellon Corp now owns 52,738 shares of the biotechnology company’s stock worth $143,000 after buying an additional 37,346 shares in the last quarter. 16.30% of the stock is currently owned by institutional investors.

Microbot Medical Company Profile

Microbot Medical Inc operates as a pre-clinical medical device company in the United Kingdom. It primarily engages in the research, design, and development of next generation robotic endoluminal surgery devices targeting the minimally invasive surgery space. The company also offers LIBERTY, an endovascular robotic surgical system which allows physicians to conduct a catheter-based procedure from outside the catheterization laboratory, and avoid radiation exposure, physical strain, and the risk of cross contamination for use in cardiovascular, peripheral, and neurovascular spaces.