Microbot Medical (NASDAQ:MBOT) Issues Earnings Results

Key Points

• Microbot Medical reported earnings of ($0.10) per share for the quarter, missing analysts' expectations of ($0.08) by $0.02.
• Following the earnings report, shares of Microbot Medical rose by 8.0%, reaching $3.12 during mid-day trading.
• Institutional investors have shown increased interest, with Geode Capital Management increasing its stake by 24.7% in the second quarter.

Microbot Medical (NASDAQ:MBOT - Get Free Report) announced its quarterly earnings data on Tuesday. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.08) by ($0.02), Zacks reports.

Microbot Medical Stock Performance

Shares of NASDAQ MBOT traded down $0.04 during trading hours on Friday, hitting $3.09. The company's stock had a trading volume of 1,720,327 shares, compared to its average volume of 2,388,391. The stock has a market cap of $140.75 million, a price-to-earnings ratio of -5.33 and a beta of 1.15. Microbot Medical has a 12 month low of $0.82 and a 12 month high of $3.38. The business has a 50-day simple moving average of $2.63 and a 200-day simple moving average of $2.25.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Microbot Medical from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th.

Institutional Trading of Microbot Medical

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new stake in Microbot Medical in the second quarter worth about $43,000. American Century Companies Inc. purchased a new stake in Microbot Medical in the second quarter worth about $32,000. Geode Capital Management LLC lifted its holdings in Microbot Medical by 24.7% in the second quarter. Geode Capital Management LLC now owns 395,039 shares of the biotechnology company's stock worth $996,000 after buying an additional 78,121 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Microbot Medical during the first quarter valued at approximately $57,000. 16.30% of the stock is currently owned by hedge funds and other institutional investors.

Microbot Medical Company Profile

Microbot Medical Inc, a pre-clinical medical device company, engages in the research, design, and development of robotic endoluminal surgery devices targeting the minimally invasive surgery space. The company 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.