Microbot Medical (NASDAQ:MBOT) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Microbot Medical (NASDAQ:MBOT) from a hold rating to a buy rating in a research report released on Thursday, Zacks.com reports. Zacks Investment Research currently has $9.00 price objective on the biotechnology company’s stock.

According to Zacks, “Microbot Medical Inc. is engaged in the research, design, development and commercialization of micro-robotics assisted medical technologies. Its product candidate includes the Self Cleaning Shunt for the treatment of hydrocephalus and Normal Pressure Hydrocephalus and TipCAT, a self-propelling, semi-disposable endoscope which is being developed initially for use in colonoscopy procedures. Microbot Medical Inc., formerly known as Stemcells, Inc., is headquartered in Hingham, MA. “

Separately, HC Wainwright raised their target price on Microbot Medical from $19.00 to $20.00 and gave the stock a buy rating in a research note on Tuesday, August 18th.

NASDAQ:MBOT opened at $8.08 on Thursday. The stock has a 50-day simple moving average of $7.29 and a 200 day simple moving average of $6.97. Microbot Medical has a 52-week low of $4.30 and a 52-week high of $20.15.

Microbot Medical (NASDAQ:MBOT) last announced its quarterly earnings data on Friday, August 14th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter. On average, research analysts predict that Microbot Medical will post -1.14 earnings per share for the current year.

In related news, Director Yoseph Bornstein sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $7.74, for a total value of $154,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.69% of the stock is owned by company insiders.

A hedge fund recently raised its stake in Microbot Medical stock. Morgan Stanley increased its holdings in Microbot Medical Inc (NASDAQ:MBOT) by 353.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,521 shares of the biotechnology company’s stock after purchasing an additional 14,434 shares during the quarter. Morgan Stanley owned approximately 0.26% of Microbot Medical worth $103,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 8.21% of the company’s stock.

Microbot Medical Company Profile

Microbot Medical Inc, a pre-clinical medical device company, researches, designs, and develops micro-robotics assisted medical technologies targeting the minimally invasive surgery space. The company, through its ViRob and TipCAT micro-robotic technologies, is developing two product candidates, including the Self Cleaning Shunt for the treatment of hydrocephalus and normal pressure hydrocephalus; and a self-propelling, semi-disposable endoscope, which is used in colonoscopy procedures.

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