CIBC Private Wealth Group LLC Grows Stock Position in Microbot Medical Inc. $MBOT

CIBC Private Wealth Group LLC increased its stake in shares of Microbot Medical Inc. (NASDAQ:MBOT) by 137.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,454,000 shares of the biotechnology company’s stock after purchasing an additional 842,000 shares during the period. CIBC Private Wealth Group LLC’s holdings in Microbot Medical were worth $4,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cornerstone Advisory LLC acquired a new position in Microbot Medical in the 3rd quarter valued at $30,000. American Century Companies Inc. acquired a new stake in shares of Microbot Medical in the 2nd quarter valued at approximately $32,000. Zacks Investment Management acquired a new stake in Microbot Medical in the third quarter valued at $33,000. Squarepoint Ops LLC acquired a new stake in shares of Microbot Medical in the third quarter valued at about $37,000. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of Microbot Medical during the 3rd quarter worth approximately $38,000. 16.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MBOT has been the topic of several research reports. Roth Mkm began coverage on Microbot Medical in a report on Wednesday, December 3rd. They issued a “buy” rating and a $5.50 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Microbot Medical in a research report on Friday, November 28th. Finally, B. Riley Financial assumed coverage on shares of Microbot Medical in a research note on Tuesday, February 10th. They issued a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Microbot Medical currently has an average rating of “Moderate Buy” and an average target price of $7.50.

Microbot Medical Price Performance

Microbot Medical stock opened at $2.54 on Friday. The stock has a market capitalization of $170.59 million, a P/E ratio of -5.64 and a beta of 1.22. Microbot Medical Inc. has a 12-month low of $1.35 and a 12-month high of $4.67. The firm’s 50-day moving average is $2.21 and its two-hundred day moving average is $2.45.

About Microbot Medical

Microbot Medical Inc (NASDAQ: MBOT) is a medical device company focused on the design, development and commercialization of micro-robotic platforms for minimally invasive procedures. Leveraging proprietary microbot technology, the company aims to navigate complex vascular and luminal pathways within the body to deliver therapy, retrieve tissue samples or perform diagnostic tasks in a precise, targeted manner.

Microbot Medical operates two primary technology divisions. Its endovascular platform is designed to traverse blood vessels and deliver clot-retrieval systems, drug payloads or cell-based therapies directly at the site of vascular injury, with applications in acute ischemic stroke and peripheral artery disease.