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

Microbot Medical (NASDAQ:MBOT) had its target price decreased by HC Wainwright from $8.00 to $7.00 in a report released on Tuesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock. HC Wainwright also issued estimates for Microbot Medical’s Q1 2024 earnings at ($0.17) EPS, Q2 2024 earnings at ($0.16) EPS, Q3 2024 earnings at ($0.16) EPS, Q4 2024 earnings at ($0.13) EPS and FY2024 earnings at ($0.61) EPS.

Microbot Medical Trading Down 1.1 %

Shares of MBOT stock opened at $0.89 on Tuesday. The stock has a 50 day moving average of $1.20 and a 200 day moving average of $1.29. The stock has a market cap of $12.82 million, a P/E ratio of -0.82 and a beta of 1.64. Microbot Medical has a twelve month low of $0.86 and a twelve month high of $4.37.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Armistice Capital LLC purchased a new position in Microbot Medical during the fourth quarter valued at approximately $2,077,000. Vanguard Group Inc. raised its position in Microbot Medical by 75.8% during the fourth quarter. Vanguard Group Inc. now owns 459,549 shares of the biotechnology company’s stock valued at $754,000 after acquiring an additional 198,213 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Microbot Medical by 4.1% during the third 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 in the last quarter. Renaissance Technologies LLC raised its position in Microbot Medical by 330.0% during the second quarter. Renaissance Technologies LLC now owns 87,695 shares of the biotechnology company’s stock valued at $239,000 after acquiring an additional 67,300 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Microbot Medical by 242.6% during the second 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 in the last quarter. 16.30% of the stock is currently owned by hedge funds and other institutional investors.

Microbot Medical Company Profile

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.