NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Sees Large Drop in Short Interest

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) was the target of a significant decline in short interest in April. As of April 30th, there was short interest totaling 27,795 shares, a decline of 79.7% from the April 15th total of 137,242 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 54,222 shares, the short-interest ratio is currently 0.5 days.

Insider Activity at NeuroOne Medical Technologies

In related news, insider David J. Wambeke bought 166,666 shares of the business’s stock in a transaction dated Sunday, March 1st. The stock was acquired at an average price of $4.02 per share, with a total value of $669,997.32. Following the completion of the purchase, the insider directly owned 166,666 shares of the company’s stock, valued at approximately $669,997.32. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold a total of 2,438 shares of company stock worth $11,702 over the last three months. 11.80% of the stock is owned by insiders.

Hedge Funds Weigh In On NeuroOne Medical Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the business. XTX Topco Ltd boosted its position in NeuroOne Medical Technologies by 321.1% during the fourth quarter. XTX Topco Ltd now owns 85,454 shares of the company’s stock worth $65,000 after acquiring an additional 65,163 shares during the last quarter. Squarepoint Ops LLC acquired a new position in NeuroOne Medical Technologies during the fourth quarter worth about $36,000. Essex Investment Management Co. LLC acquired a new position in NeuroOne Medical Technologies during the fourth quarter worth about $143,000. Renaissance Technologies LLC boosted its position in NeuroOne Medical Technologies by 10.2% during the fourth quarter. Renaissance Technologies LLC now owns 763,028 shares of the company’s stock worth $578,000 after acquiring an additional 70,428 shares during the last quarter. Finally, Legato Capital Management LLC acquired a new position in NeuroOne Medical Technologies during the fourth quarter worth about $34,000. 16.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on NMTC shares. JonesTrading started coverage on shares of NeuroOne Medical Technologies in a research note on Monday, March 2nd. They set a “buy” rating and a $9.00 target price for the company. Wall Street Zen raised shares of NeuroOne Medical Technologies to a “sell” rating in a research note on Saturday, February 21st. Finally, Zacks Research cut shares of NeuroOne Medical Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 13th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.50.

NeuroOne Medical Technologies Trading Down 9.0%

NMTC opened at $4.33 on Tuesday. The firm has a market capitalization of $36.46 million, a PE ratio of -4.25 and a beta of 0.60. NeuroOne Medical Technologies has a twelve month low of $3.27 and a twelve month high of $6.96. The firm’s 50-day moving average price is $4.55 and its 200 day moving average price is $4.56.

NeuroOne Medical Technologies (NASDAQ:NMTC) last posted its quarterly earnings results on Tuesday, February 17th. The company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.06. The firm had revenue of $2.89 million for the quarter, compared to analyst estimates of $2.47 million. NeuroOne Medical Technologies had a negative net margin of 78.34% and a negative return on equity of 119.92%. As a group, analysts predict that NeuroOne Medical Technologies will post -0.72 earnings per share for the current fiscal year.

NeuroOne Medical Technologies Company Profile

NeuroOne Medical Technologies Corp. is a medical device company focused on developing advanced neural interface technologies for diagnostic and therapeutic applications in neurosurgery and neurology. The company’s core mission is to improve patient outcomes through next-generation electrode systems that enable high-resolution neural recording and targeted stimulation. By leveraging proprietary thin-film microelectrode arrays, NeuroOne aims to offer clinicians unprecedented single-unit precision during brain mapping procedures.

The company’s flagship platform, the EVO™ system, integrates thin-film neural electrodes with intraoperative monitoring hardware and software.