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

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

MBOT has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microbot Medical in a report on Wednesday, July 8th. Zacks Research downgraded Microbot Medical from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 20th. Loop Capital set a $4.00 target price on Microbot Medical in a research note on Wednesday, June 3rd. B. Riley Financial reiterated a “buy” rating and set a $4.00 target price (down from $5.00) on shares of Microbot Medical in a report on Friday, August 14th. Finally, HC Wainwright reissued a “buy” rating on shares of Microbot Medical in a research report on Wednesday, August 19th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.38.

Microbot Medical Price Performance

NASDAQ:MBOT opened at $1.44 on Friday. The company has a market capitalization of $96.72 million, a PE ratio of -6.00 and a beta of 1.03. Microbot Medical has a 52-week low of $1.44 and a 52-week high of $4.67. The stock has a fifty day simple moving average of $1.70 and a 200-day simple moving average of $2.01.

Microbot Medical (NASDAQ:MBOT) last released its quarterly earnings data on Tuesday, August 11th. The biotechnology company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The business had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $0.13 million. As a group, equities analysts anticipate that Microbot Medical will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On Microbot Medical

Several institutional investors have recently added to or reduced their stakes in MBOT. CTC Alternative Strategies Ltd. acquired a new stake in Microbot Medical in the 1st quarter worth about $28,000. American Century Companies Inc. purchased a new position in shares of Microbot Medical during the 2nd quarter worth about $32,000. Zacks Investment Management acquired a new stake in shares of Microbot Medical in the third quarter worth approximately $33,000. Man Group plc acquired a new stake in shares of Microbot Medical in the fourth quarter worth approximately $35,000. Finally, Squarepoint Ops LLC purchased a new stake in Microbot Medical in the third quarter valued at approximately $37,000. 16.30% of the stock is currently owned by institutional investors and hedge funds.

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.