Microbot Medical (NASDAQ:MBOT) PT Lowered to $7.00

Microbot Medical (NASDAQ:MBOT) had its price objective cut by equities researchers at HC Wainwright from $8.00 to $7.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock.

Microbot Medical Trading Down 5.1 %

Shares of NASDAQ MBOT opened at $0.90 on Tuesday. Microbot Medical has a twelve month low of $0.88 and a twelve month high of $4.37. The stock has a fifty day simple moving average of $1.21 and a 200-day simple moving average of $1.29. The stock has a market capitalization of $12.96 million, a PE ratio of -0.83 and a beta of 1.64.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Microbot Medical by 75.8% during the 4th quarter. Vanguard Group Inc. now owns 459,549 shares of the biotechnology company’s stock worth $754,000 after purchasing an additional 198,213 shares in the last quarter. Virtu Financial LLC grew its stake in Microbot Medical by 75.9% during the 4th quarter. Virtu Financial LLC now owns 42,046 shares of the biotechnology company’s stock worth $69,000 after purchasing an additional 18,138 shares in the last quarter. Armistice Capital LLC acquired a new position in Microbot Medical during the 4th quarter worth $492,000. Wells Fargo & Company MN grew its stake in Microbot Medical by 6,713.4% during the 2nd quarter. Wells Fargo & Company MN now owns 12,741 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 12,554 shares in the last quarter. Finally, Hilltop Holdings Inc. acquired a new position in Microbot Medical during the 2nd quarter worth $52,000. 16.30% of the stock is owned by institutional investors and hedge funds.

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.