Zacks Investment Research upgraded shares of Microbot Medical (NASDAQ:MBOT) from a hold rating to a buy rating in a report issued on Thursday morning, 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 lifted their price objective on shares of Microbot Medical from $19.00 to $20.00 and gave the stock a buy rating in a report on Tuesday, August 18th.
Microbot Medical (NASDAQ:MBOT) last released its quarterly earnings results on Friday, August 14th. The biotechnology company reported ($0.26) earnings per share for the quarter. On average, analysts anticipate that Microbot Medical will post -1.14 EPS for the current year.
In other Microbot Medical news, Director Yoseph Bornstein sold 20,000 shares of Microbot Medical stock in a transaction on Monday, October 5th. The shares were sold at an average price of $7.74, for a total value of $154,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.69% of the company’s stock.
A hedge fund recently raised its stake in Microbot Medical stock. Morgan Stanley boosted its holdings in Microbot Medical Inc (NASDAQ:MBOT) by 353.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter. 8.21% of the stock is owned by institutional investors and hedge funds.
About Microbot Medical
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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