NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) Receives $1.98 Average Price Target from Brokerages

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) has received an average rating of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $1.9833.

NMTC has been the subject of a number of recent analyst reports. Zacks Research raised NeuroOne Medical Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. JonesTrading assumed coverage on shares of NeuroOne Medical Technologies in a research report on Monday, March 2nd. They issued a “buy” rating and a $1.50 price target on the stock. Finally, Wall Street Zen raised shares of NeuroOne Medical Technologies to a “sell” rating in a report on Saturday, February 21st.

NeuroOne Medical Technologies Price Performance

Shares of NASDAQ:NMTC opened at $0.84 on Monday. NeuroOne Medical Technologies has a fifty-two week low of $0.40 and a fifty-two week high of $1.16. The business has a 50-day moving average of $0.81 and a two-hundred day moving average of $0.79. The stock has a market capitalization of $42.45 million, a P/E ratio of -4.94 and a beta of 0.75.

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

Insiders Place Their Bets

In other news, insider David J. Wambeke purchased 1,000,000 shares of the firm’s stock in a transaction on Sunday, March 1st. The stock was bought at an average cost of $0.67 per share, for a total transaction of $670,000.00. Following the completion of the acquisition, the insider directly owned 1,000,000 shares of the company’s stock, valued at approximately $670,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NeuroOne Medical Technologies

A number of institutional investors have recently made changes to their positions in the business. Sio Capital Management LLC acquired a new position in shares of NeuroOne Medical Technologies during the 2nd quarter worth about $2,390,000. Vanguard Group Inc. lifted its holdings in shares of NeuroOne Medical Technologies by 31.2% during the third quarter. Vanguard Group Inc. now owns 1,578,237 shares of the company’s stock worth $1,403,000 after buying an additional 375,639 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of 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 buying an additional 70,428 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of NeuroOne Medical Technologies in the fourth quarter valued at approximately $143,000. Finally, Virtu Financial LLC bought a new stake in shares of NeuroOne Medical Technologies in the third quarter valued at approximately $88,000. 16.07% of the stock is currently owned by institutional investors.

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.