Neothetics, Inc. (NEOT) Sees Large Drop in Short Interest

Neothetics, Inc. (NASDAQ:NEOT) was the target of a significant drop in short interest in November. As of November 15th, there was short interest totalling 448,535 shares, a drop of 53.7% from the October 31st total of 968,964 shares. Based on an average trading volume of 614,713 shares, the short-interest ratio is presently 0.7 days. Approximately 5.1% of the company’s shares are short sold.

Neothetics (NASDAQ NEOT) opened at $1.38 on Friday. Neothetics has a 1 year low of $0.30 and a 1 year high of $2.63.

Neothetics (NASDAQ:NEOT) last released its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.13) earnings per share for the quarter.

An institutional investor recently bought a new position in Neothetics stock. Virtu KCG Holdings LLC purchased a new position in shares of Neothetics, Inc. (NASDAQ:NEOT) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 278,219 shares of the biotechnology company’s stock, valued at approximately $150,000. Virtu KCG Holdings LLC owned 2.01% of Neothetics as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 3.75% of the company’s stock.

Separately, ValuEngine raised shares of Neothetics from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 17th.

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Neothetics Company Profile

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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