Microbot Medical (NASDAQ:MBOT) Issues Earnings Results

Microbot Medical (NASDAQ:MBOT) announced its quarterly earnings results on Tuesday. The biotechnology company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08), FiscalAI reports. The company had revenue of $0.24 million during the quarter, compared to analyst estimates of $0.33 million.

Microbot Medical Price Performance

NASDAQ MBOT traded down $0.22 during trading on Tuesday, hitting $1.72. 1,110,261 shares of the company’s stock were exchanged, compared to its average volume of 1,527,116. 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 has a market cap of $115.20 million, a PE ratio of -6.59 and a beta of 1.06. Microbot Medical has a fifty-two week low of $1.60 and a fifty-two week high of $4.67. The stock’s 50 day moving average price is $1.83 and its two-hundred day moving average price is $2.07.

Wall Street Analysts Forecast Growth

MBOT has been the subject of a number of research reports. HC Wainwright reissued a “buy” rating on shares of Microbot Medical in a report on Tuesday, July 14th. Wall Street Zen raised shares of Microbot Medical from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Microbot Medical in a research note on Wednesday, July 8th. Loop Capital set a $4.00 price objective on shares of Microbot Medical in a report on Wednesday, June 3rd. Finally, Zacks Research raised shares of Microbot Medical from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Microbot Medical currently has an average rating of “Buy” and an average target price of $6.62.

Hedge Funds Weigh In On Microbot Medical

Several large investors have recently bought and sold shares of MBOT. Goldman Sachs Group Inc. acquired a new position in shares of Microbot Medical in the first quarter valued at approximately $57,000. Geode Capital Management LLC raised its position in 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 last quarter. American Century Companies Inc. bought a new stake in shares of Microbot Medical in the 2nd quarter valued at about $32,000. XTX Topco Ltd acquired a new stake in shares of Microbot Medical in the second quarter valued at about $43,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Microbot Medical during the third quarter worth about $98,000. 16.30% of the stock is currently owned by institutional investors.

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.