Microbot Medical (NASDAQ:MBOT) Shares Pass Above 200-Day Moving Average - Here's Why

Microbot Medical Inc. (NASDAQ:MBOT - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.74 and traded as high as $2.90. Microbot Medical shares last traded at $2.68, with a volume of 2,094,084 shares traded.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a "buy" rating and set a $9.00 target price on shares of Microbot Medical in a research report on Thursday, April 10th.

Microbot Medical Price Performance

The company has a fifty day moving average of $2.29 and a 200-day moving average of $1.78. The firm has a market cap of $99.31 million, a P/E ratio of -3.41 and a beta of 1.15.

Microbot Medical (NASDAQ:MBOT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.07. On average, sell-side analysts expect that Microbot Medical Inc. will post -0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Microbot Medical by 7.9% during the 4th quarter. Geode Capital Management LLC now owns 142,659 shares of the biotechnology company's stock valued at $160,000 after buying an additional 10,442 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Microbot Medical in the 1st quarter valued at about $42,000. Goldman Sachs Group Inc. purchased a new stake in shares of Microbot Medical in the 1st quarter valued at about $57,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Microbot Medical during the 4th quarter valued at about $118,000. Hedge funds and other institutional investors own 16.30% of the company's stock.

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.