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

Microbot Medical (NASDAQ:MBOT) had its price objective reduced by HC Wainwright from $8.00 to $7.00 in a research note published on Tuesday morning, Benzinga reports. They currently have 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 Stock Performance

NASDAQ MBOT opened at $0.89 on Tuesday. The company has a market cap of $12.82 million, a P/E ratio of -0.82 and a beta of 1.64. The business’s 50 day moving average price is $1.20 and its 200-day moving average price is $1.29. Microbot Medical has a fifty-two week low of $0.86 and a fifty-two week high of $4.37.

Hedge Funds Weigh In On Microbot Medical

Several large investors have recently modified their holdings of MBOT. Armistice Capital LLC bought a new position in shares of Microbot Medical during the 4th quarter valued at approximately $2,077,000. Vanguard Group Inc. increased its position in shares of Microbot Medical by 75.8% during the 4th quarter. Vanguard Group Inc. now owns 459,549 shares of the biotechnology company’s stock valued at $754,000 after purchasing an additional 198,213 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Microbot Medical by 330.0% during the 2nd quarter. Renaissance Technologies LLC now owns 87,695 shares of the biotechnology company’s stock valued at $239,000 after purchasing an additional 67,300 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Microbot Medical by 242.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 52,738 shares of the biotechnology company’s stock valued at $143,000 after purchasing an additional 37,346 shares during the last quarter. Finally, Hilltop Holdings Inc. purchased a new position in Microbot Medical during the 2nd quarter valued at $52,000. Institutional investors own 16.30% of the company’s stock.

About Microbot Medical

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.