Stock price soars
Today, Microbot Medical (MBOT) announced a registered direct offering worth $3 million at $6.50 per share, and yesterday, the company announced results demonstrating the operational effectiveness of its self-cleaning shunt. These results confirmed those of pre-clinical studies of the product’s applicability in treating hydrocephalus.
This news has boosted Microbot stock by ~70% from yesterday’s closing price of $9.79, which was 307.91% higher than its previous closing price. Microbot has a market capitalization of $51.84 million, making it a microcap stock. Companies with a market capitalization under $300 million are generally exposed to higher-than-average risks.
As of yesterday, Microbot stock had returned 417.99% in the last week, 387.06% in the last month, 67.35% in the last quarter, -10.27% in the last half year, -39% in the last year, and 469.19% year-to-date.
Recommendations for Microbot Medical
The only analyst covering Microbot has recommended “hold,” and that analyst’s target price of $26.25 for the stock is 52.53% higher than its current price of $17.21.