Citizens Jmp Initiates Coverage on Microbot Medical (NASDAQ:MBOT)

by · The Cerbat Gem

Equities research analysts at Citizens Jmp initiated coverage on shares of Microbot Medical (NASDAQ:MBOT – Get Free Report) in a report issued on Friday, Briefing.com reports. The brokerage set an “outperform” rating and a $2.50 price target on the biotechnology company’s stock. Citizens Jmp‘s target price suggests a potential upside of 165.42% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Microbot Medical in a report on Friday, October 2nd. UBS Group set a $2.50 target price on shares of Microbot Medical in a research note on Friday. Citigroup assumed coverage on Microbot Medical in a research note on Friday. They issued a “market outperform” rating on the stock. B. Riley Financial assumed coverage on Microbot Medical in a research report on Friday, September 11th. They set a “buy” rating and a $4.00 price objective for the company. Finally, Zacks Research downgraded Microbot Medical from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 20th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Microbot Medical currently has an average rating of “Moderate Buy” and an average price target of $5.08.

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Microbot Medical Price Performance

Microbot Medical stock opened at $0.94 on Friday. The firm has a 50 day simple moving average of $1.30 and a 200-day simple moving average of $1.72. Microbot Medical has a 1-year low of $0.93 and a 1-year high of $2.85.

Microbot Medical (NASDAQ:MBOT – Get Free Report) last issued its quarterly earnings data on Tuesday, August 11th. The biotechnology company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $0.24 million during the quarter, compared to analyst estimates of $0.13 million. Equities analysts forecast that Microbot Medical will post -0.30 EPS for the current year.

Institutional Trading of Microbot Medical

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CTC Alternative Strategies Ltd. acquired a new stake in Microbot Medical during the 1st quarter worth approximately $28,000. Cetera Investment Advisers raised its stake in shares of Microbot Medical by 44.7% during the first quarter. Cetera Investment Advisers now owns 42,412 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 13,099 shares during the period. Private Advisor Group LLC acquired a new position in shares of Microbot Medical during the first quarter worth $54,000. Finally, Bank of America Corp DE grew its holdings in Microbot Medical by 1,688.1% during the 1st quarter. Bank of America Corp DE now owns 75,799 shares of the biotechnology company’s stock valued at $183,000 after purchasing an additional 71,560 shares in the last quarter. Hedge funds and other institutional investors own 16.30% of the company’s stock.

About Microbot Medical

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Microbot Medical Inc (NASDAQ: MBOT) is a medical device company developing robotic and computer-assisted technologies for minimally invasive endovascular procedures. The company focuses on systems intended to help physicians navigate blood vessels and deliver interventional devices while potentially improving procedural control and reducing radiation exposure to medical personnel.

Microbot Medical’s primary product candidate is the LIBERTY Endovascular Robotic System, a single-use, disposable robotic platform designed to remotely control guidewires and catheters during vascular procedures.

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