Microbot Medical’s (MBOT) “Buy” Rating Reiterated at HC Wainwright

Microbot Medical (NASDAQ:MBOT)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They presently have a $9.00 price target on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 303.59% from the stock’s previous close.

Microbot Medical Stock Up 24.6 %

MBOT stock opened at $2.23 on Thursday. Microbot Medical has a 52-week low of $0.82 and a 52-week high of $3.38. The firm has a market cap of $77.48 million, a P/E ratio of -2.79 and a beta of 1.40. The company’s 50-day simple moving average is $1.67 and its 200-day simple moving average is $1.37.

Microbot Medical (NASDAQ:MBOT) last issued its quarterly earnings results on Wednesday, March 26th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). On average, analysts anticipate that Microbot Medical will post -0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Microbot Medical

A hedge fund recently raised its stake in Microbot Medical stock. Geode Capital Management LLC grew its stake in Microbot Medical Inc. (NASDAQ:MBOT) by 7.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,659 shares of the biotechnology company’s stock after purchasing an additional 10,442 shares during the quarter. Geode Capital Management LLC owned approximately 0.70% of Microbot Medical worth $160,000 as of its most recent SEC filing. Institutional investors and hedge funds own 16.30% of the company’s stock.

About Microbot Medical

Microbot Medical Inc, a pre-clinical medical device company, engages in the research, design, and development of robotic endoluminal surgery devices targeting the minimally invasive surgery space. The company 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.