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

Microbot Medical (NASDAQ:MBOT) posted its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.05) earnings per share for the quarter, beating 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 Stock Up 5.6%

Shares of MBOT opened at $1.87 on Tuesday. The business’s 50 day moving average is $1.95 and its 200 day moving average is $2.14. The company has a current ratio of 22.59, a quick ratio of 21.93 and a debt-to-equity ratio of 0.01. Microbot Medical has a 12-month low of $1.60 and a 12-month high of $4.67. The company has a market capitalization of $125.60 million, a PE ratio of -7.19 and a beta of 1.04.

Institutional Trading of Microbot Medical

Hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. purchased a new stake in shares of Microbot Medical in the first quarter valued at $57,000. Geode Capital Management LLC boosted its stake in shares of Microbot Medical by 24.7% during the 2nd quarter. Geode Capital Management LLC now owns 395,039 shares of the biotechnology company’s stock worth $996,000 after purchasing an additional 78,121 shares during the period. American Century Companies Inc. purchased a new position in shares of Microbot Medical during the 2nd quarter worth about $32,000. XTX Topco Ltd bought a new position in Microbot Medical during the 2nd quarter valued at about $43,000. Finally, Envestnet Asset Management Inc. bought a new position in Microbot Medical during the 3rd quarter valued at about $98,000. 16.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on MBOT. Wall Street Zen upgraded shares of Microbot Medical from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of Microbot Medical in a research report on Tuesday, April 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Microbot Medical in a research note on Friday, April 10th. Finally, Loop Capital set a $4.00 price objective on shares of Microbot Medical in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $6.62.

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.