Neothetics, Inc. (NASDAQ:NEOT) was the target of a large drop in short interest in the month of September. As of September 29th, there was short interest totalling 576,946 shares, a drop of 38.9% from the September 15th total of 944,313 shares. Based on an average daily trading volume, of 388,232 shares, the days-to-cover ratio is presently 1.5 days. Currently, 6.6% of the company’s stock are short sold.
Separately, ValuEngine upgraded Neothetics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 17th.
Neothetics (NASDAQ:NEOT) opened at 1.22 on Friday. Neothetics has a 52 week low of $0.30 and a 52 week high of $2.63. The stock’s market cap is $16.87 million. The stock has a 50 day moving average price of $0.59 and a 200 day moving average price of $1.12.
Neothetics (NASDAQ:NEOT) last released its quarterly earnings data on Thursday, August 10th. The biotechnology company reported ($0.20) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.20). On average, equities analysts predict that Neothetics will post ($0.61) earnings per share for the current year.
A hedge fund recently bought a new stake in Neothetics stock. Virtu KCG Holdings LLC bought a new stake in Neothetics, Inc. (NASDAQ:NEOT) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 278,219 shares of the biotechnology company’s stock, valued at approximately $150,000. Virtu KCG Holdings LLC owned about 2.01% of Neothetics at the end of the most recent quarter. 4.65% of the stock is owned by institutional investors and hedge funds.
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Neothetics, Inc is a clinical-stage specialty pharmaceutical company, which develops therapeutics. The Company focuses on localized fat reduction and body contouring. It focuses on the development of LIPO-202 for the reduction of central abdominal bulging due to subcutaneous fat in non-obese patients.
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