Microbot Medical (NASDAQ:MBOT) Announces Earnings Results

Microbot Medical (NASDAQ:MBOT) announced its quarterly earnings data on Wednesday, May 13th. The biotechnology company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03, FiscalAI reports. The business had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.30 million.

Microbot Medical Trading Up 2.2%

Shares of Microbot Medical stock opened at $1.82 on Tuesday. Microbot Medical has a 12-month low of $1.60 and a 12-month high of $4.67. The company has a market cap of $122.25 million, a price-to-earnings ratio of -7.00 and a beta of 1.04. The company has a current ratio of 22.59, a quick ratio of 21.93 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $2.06 and its 200-day moving average price is $2.18.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Microbot Medical from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Microbot Medical in a report on Friday, April 10th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Microbot Medical in a research report on Tuesday, April 14th. Finally, Loop Capital set a $4.00 target price on shares of Microbot Medical in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.62.

Institutional Trading of Microbot Medical

A number of hedge funds and other institutional investors have recently bought and sold shares of MBOT. CIBC Bancorp USA Inc. purchased a new stake in Microbot Medical in the 3rd quarter worth approximately $4,435,000. Vanguard Group Inc. increased its holdings in shares of Microbot Medical by 14.3% in the third quarter. Vanguard Group Inc. now owns 2,343,561 shares of the biotechnology company’s stock worth $7,148,000 after purchasing an additional 292,923 shares during the period. Geode Capital Management LLC increased its holdings in shares of Microbot Medical by 54.4% in the fourth quarter. Geode Capital Management LLC now owns 761,995 shares of the biotechnology company’s stock worth $1,524,000 after purchasing an additional 268,609 shares during the period. 683 Capital Management LLC purchased a new stake in shares of Microbot Medical in the fourth quarter worth $512,000. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Microbot Medical in the fourth quarter worth $400,000. Institutional investors own 16.30% of the company’s stock.

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.