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

Microbot Medical (NASDAQ:MBOT) had its price objective decreased by investment analysts at HC Wainwright from $8.00 to $7.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock.

Microbot Medical Trading Down 5.1 %

Shares of MBOT stock opened at $0.90 on Tuesday. The firm has a 50-day moving average price of $1.21 and a 200 day moving average price of $1.29. Microbot Medical has a twelve month low of $0.88 and a twelve month high of $4.37. The company has a market capitalization of $12.96 million, a price-to-earnings ratio of -0.83 and a beta of 1.64.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC acquired a new position in shares of Microbot Medical during the 1st quarter valued at about $78,000. Renaissance Technologies LLC increased its stake in shares of Microbot Medical by 52.5% during the 1st quarter. Renaissance Technologies LLC now owns 15,695 shares of the biotechnology company’s stock valued at $98,000 after acquiring an additional 5,400 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Microbot Medical by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 92,451 shares of the biotechnology company’s stock valued at $442,000 after acquiring an additional 3,609 shares during the last quarter. Armistice Capital LLC acquired a new position in shares of Microbot Medical during the 4th quarter valued at about $2,077,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Microbot Medical by 242.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 52,738 shares of the biotechnology company’s stock valued at $143,000 after acquiring an additional 37,346 shares during the last quarter. Institutional investors and hedge funds own 16.30% of the company’s stock.

About Microbot Medical

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.