JonesTrading Begins Coverage on NeuroOne Medical Technologies (NASDAQ:NMTC)

Investment analysts at JonesTrading started coverage on shares of NeuroOne Medical Technologies (NASDAQ:NMTC) in a report issued on Monday, MarketBeat reports. The brokerage set a “buy” rating and a $1.50 price target on the stock. JonesTrading’s target price points to a potential upside of 85.19% from the stock’s previous close.

A number of other analysts also recently commented on NMTC. Zacks Research upgraded NeuroOne Medical Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th. Wall Street Zen raised NeuroOne Medical Technologies to a “sell” rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1.98.

NeuroOne Medical Technologies Price Performance

NMTC stock opened at $0.81 on Monday. The company has a market capitalization of $40.93 million, a P/E ratio of -4.76 and a beta of 0.74. NeuroOne Medical Technologies has a 12 month low of $0.40 and a 12 month high of $1.16. The firm’s fifty day simple moving average is $0.81 and its 200-day simple moving average is $0.79.

NeuroOne Medical Technologies (NASDAQ:NMTC) last posted its earnings results on Tuesday, February 17th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $2.89 million during the quarter, compared to the consensus estimate of $2.47 million. NeuroOne Medical Technologies had a negative net margin of 78.34% and a negative return on equity of 119.92%.

Insider Buying and Selling

In other NeuroOne Medical Technologies news, insider David J. Wambeke acquired 1,000,000 shares of the business’s stock in a transaction dated Sunday, March 1st. The stock was acquired at an average cost of $0.67 per share, for a total transaction of $670,000.00. Following the completion of the transaction, the insider directly owned 1,000,000 shares of the company’s stock, valued at $670,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On NeuroOne Medical Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd increased its holdings in NeuroOne Medical Technologies by 321.1% in the 4th quarter. XTX Topco Ltd now owns 85,454 shares of the company’s stock worth $65,000 after acquiring an additional 65,163 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of NeuroOne Medical Technologies during the fourth quarter worth about $36,000. Essex Investment Management Co. LLC acquired a new position in shares of NeuroOne Medical Technologies during the 4th quarter worth about $143,000. Renaissance Technologies LLC raised its position in shares of NeuroOne Medical Technologies by 10.2% during the 4th quarter. Renaissance Technologies LLC now owns 763,028 shares of the company’s stock worth $578,000 after purchasing an additional 70,428 shares during the last quarter. Finally, Legato Capital Management LLC purchased a new position in NeuroOne Medical Technologies in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 16.07% of the company’s stock.

About NeuroOne Medical Technologies

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.