Microbot Medical (NASDAQ:MBOT) Trading Up 9% After Analyst Upgrade

Finally, Renaissance Technologies LLC increased its stake in Microbot Medical by 5.5% in the 2nd quarter. Renaissance Technologies LLC now …

Microbot Medical logoMicrobot Medical Inc (NASDAQ:MBOT) shares were up 9% during mid-day trading on Monday after ValuEngine upgraded the stock from a sell rating to a hold rating. The stock traded as high as $13.81 and last traded at $14.35, approximately 283,914 shares traded hands during trading. A decline of 91% from the average daily volume of 3,126,373 shares. The stock had previously closed at $13.17.

MBOT has been the topic of several other research reports. Zacks Investment Research raised Microbot Medical from a “sell” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Wednesday, January 1st. HC Wainwright lifted their target price on Microbot Medical from $12.00 to $26.00 and gave the company a “buy” rating in a research note on Monday.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley raised its stake in Microbot Medical by 77.0% during the 2nd quarter. Morgan Stanley now owns 6,316 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 2,748 shares during the period. JPMorgan Chase & Co. bought a new stake in Microbot Medical in the 2nd quarter worth approximately $45,000. BlackRock Inc. increased its stake in Microbot Medical by 5.7% in the 2nd quarter. BlackRock Inc. now owns 183,520 shares of the biotechnology company’s stock worth $945,000 after acquiring an additional 9,906 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in Microbot Medical by 5.5% in the 2nd quarter. Renaissance Technologies LLC now owns 206,887 shares of the biotechnology company’s stock worth $1,065,000 after acquiring an additional 10,838 shares during the last quarter. 9.77% of the stock is currently owned by institutional investors.

The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $8.52 and a 200-day simple moving average of $6.30. The firm has a market cap of $82.77 million, a P/E ratio of -4.81 and a beta of 5.22.

Microbot Medical (NASDAQ:MBOT) last released its quarterly earnings data on Thursday, November 14th. The biotechnology company reported ($0.44) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.44). As a group, equities analysts forecast that Microbot Medical Inc will post -1.66 earnings per share for the current fiscal year.

Microbot Medical Company Profile (NASDAQ:MBOT)

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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