Investors Buy Large Volume of Call Options on Microbot Medical (NASDAQ:MBOT)

Key Points

• Microbot Medical Inc. experienced a significant increase in options trading, with 6,618 call options acquired, marking a 174% rise from the average daily volume.
• Several institutional investors, including Renaissance Technologies LLC and Goldman Sachs Group Inc., have recently adjusted their stakes in Microbot Medical, highlighting growing interest in the stock.
• HC Wainwright has maintained a "buy" rating for Microbot Medical, setting a price target of $9.00, while other analysts have shifted their ratings from sell to hold.

Microbot Medical Inc. (NASDAQ:MBOT - Get Free Report) saw some unusual options trading activity on Wednesday. Stock traders purchased 6,618 call options on the company. Thisrepresentsanincreaseofapproximately174% compared to the typical daily volume of 2,413 call options.

Institutional Trading of Microbot Medical

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in shares of Microbot Medical in the 4th quarter worth about $118,000. Goldman Sachs Group Inc. bought a new position in shares of Microbot Medical in the 1st quarter worth about $57,000. Virtu Financial LLC bought a new position in shares of Microbot Medical during the first quarter worth about $42,000. Lazari Capital Management Inc. acquired a new position in shares of Microbot Medical during the second quarter valued at approximately $54,000. Finally, Geode Capital Management LLC boosted its stake in Microbot Medical by 7.9% during the fourth 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 in the last quarter. 16.30% of the stock is currently owned by hedge funds and other institutional investors.

Microbot Medical Trading Down 1.4%

Shares of MBOT traded down $0.04 during midday trading on Friday, reaching $2.50. 912,589 shares of the stock were exchanged, compared to its average volume of 3,140,019. The company has a market capitalization of $90.77 million, a P/E ratio of -3.84 and a beta of 1.13. Microbot Medical has a 52 week low of $0.82 and a 52 week high of $3.38. The company's 50 day moving average is $2.58 and its two-hundred day moving average is $2.17.

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

Analysts Set New Price Targets

Several research analysts have commented on MBOT shares. Wall Street Zen upgraded Microbot Medical from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. HC Wainwright reiterated a "buy" rating and issued a $9.00 price target on shares of Microbot Medical in a research report on Thursday, April 10th.

About Microbot Medical

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.