Traders 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) was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 6,618 call options on the stock. Thisisanincreaseof174% compared to the average volume of 2,413 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Lazari Capital Management Inc. bought a new position in Microbot Medical in the second quarter valued at approximately $54,000. Beacon Capital Management LLC increased its stake in Microbot Medical by 166.7% in the second quarter. Beacon Capital Management LLC now owns 16,000 shares of the biotechnology company's stock valued at $40,000 after acquiring an additional 10,000 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in Microbot Medical in the second quarter valued at approximately $25,000. Goldman Sachs Group Inc. bought a new position in Microbot Medical in the first quarter valued at approximately $57,000. Finally, Virtu Financial LLC bought a new position in Microbot Medical in the first quarter valued at approximately $42,000. 16.30% of the stock is owned by institutional investors.

Microbot Medical Stock Up 0.8%

Shares of MBOT traded up $0.02 during mid-day trading on Friday, hitting $2.55. 1,493,223 shares of the company's stock were exchanged, compared to its average volume of 2,040,639. Microbot Medical has a 52 week low of $0.82 and a 52 week high of $3.38. The stock's 50-day simple moving average is $2.58 and its 200-day simple moving average is $2.17. The firm has a market cap of $92.77 million, a price-to-earnings ratio of -3.92 and a beta of 1.15.

Microbot Medical (NASDAQ:MBOT - Get Free Report) last announced its earnings results on Wednesday, May 21st. The biotechnology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.07. Analysts forecast that Microbot Medical will post -0.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. HC Wainwright reissued a "buy" rating and issued a $9.00 price target on shares of Microbot Medical in a report on Thursday, April 10th. Wall Street Zen raised shares of Microbot Medical from a "sell" rating to a "hold" rating in a report on Saturday, June 14th.

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.