Short Interest in Microbot Medical Inc (MBOT) Decreases By 33.4%

Microbot Medical Inc (NASDAQ:MBOT) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 381,268 shares, a decrease of 33.4% from the February 15th total of 572,718 shares. Based on an average daily trading volume, of 236,612 shares, the short-interest ratio is currently 1.6 days. Currently, 12.1% of the shares of the company are short sold.

A number of brokerages have recently commented on MBOT. ValuEngine lowered shares of Microbot Medical from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. LADENBURG THALM/SH SH lowered shares of Microbot Medical from a “buy” rating to a “hold” rating and set a $1.75 price objective for the company. in a research report on Monday, November 19th. They noted that the move was a valuation call.

Shares of MBOT opened at $8.59 on Friday. Microbot Medical has a 52 week low of $1.38 and a 52 week high of $19.40.

In related news, major shareholder Alliance Investment Management acquired 14,280 shares of the business’s stock in a transaction dated Wednesday, January 9th. The stock was acquired at an average price of $2.19 per share, with a total value of $31,273.20. Following the completion of the transaction, the insider now owns 302,720 shares of the company’s stock, valued at $662,956.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought 118,362 shares of company stock valued at $421,235 in the last ninety days. 20.31% of the stock is owned by company insiders.

A hedge fund recently bought a new stake in Microbot Medical stock. Geode Capital Management LLC purchased a new position in Microbot Medical Inc (NASDAQ:MBOT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,151 shares of the biotechnology company’s stock, valued at approximately $38,000. Geode Capital Management LLC owned approximately 0.51% of Microbot Medical as of its most recent SEC filing. 5.18% of the stock is owned by hedge funds and other institutional investors.

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About Microbot Medical

Microbot Medical Inc, a pre-clinical medical device company, researches, designs, and develops micro-robotics assisted medical technologies targeting the minimally invasive surgery space. The company, through its ViRob and TipCAT micro-robotic technologies, is developing two product candidates, including the Self Cleaning Shunt for the treatment of hydrocephalus and normal pressure hydrocephalus; and a self-propelling, semi-disposable endoscope, which is used in colonoscopy procedures.

Read More: SEC Filing

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