While its quiet on most of Wall Street today on Christmas Eve, don't tell that to Microbot Medical Inc (NASDAQ:MBOT). The stock is up 41.8% to trade at $14.34, after H.C. Wainwright boosted its price target to $12 from $10. But what's more likely to be driving gains is yesterday's news that the company plans to unveil Liberty, the company's robotic system to treat blood vessel-related surgical procedures, at a demonstration on Jan. 13 in San Francisco. Liberty is the first ever fully disposable robotic system that can be operated remotely.
The Liberty news first broke yesterday, and MBOT gapped higher by 77.4%. Thanks to today's mini-rally, the shares are trading at their highest point since a massive mid-January bull gap. The equity had spent the last six months consolidating below the $8 level, but is now up more than 500% in 2019.
Today's bull note could be just the beginning. Currently there's only one brokerage covering MBOT, and that price target sits at $10, a discount from last night's closing perch at $10.11.