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

JonesTrading started coverage on shares of NeuroOne Medical Technologies (NASDAQ:NMTC) in a report issued on Monday,Benzinga reports. The brokerage set a “buy” rating and a $1.50 price target on the stock. JonesTrading’s target price indicates a potential upside of 123.75% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Zacks Research upgraded shares of NeuroOne Medical Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. Wall Street Zen upgraded shares of NeuroOne Medical Technologies to a “sell” rating in a research note on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1.98.

NeuroOne Medical Technologies Stock Down 2.9%

Shares of NMTC stock opened at $0.67 on Monday. The stock’s 50-day moving average price is $0.81 and its 200 day moving average price is $0.80. The stock has a market capitalization of $33.88 million, a PE ratio of -3.94 and a beta of 0.75. NeuroOne Medical Technologies has a 52-week low of $0.40 and a 52-week high of $1.16.

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

Institutional Trading of NeuroOne Medical Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Sio Capital Management LLC acquired a new stake in NeuroOne Medical Technologies during the 2nd quarter valued at $2,390,000. Vanguard Group Inc. boosted 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 purchasing an additional 375,639 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in shares of NeuroOne Medical Technologies in the fourth quarter valued at $143,000. Virtu Financial LLC acquired a new position in NeuroOne Medical Technologies in the third quarter valued at $88,000. Finally, Goldman Sachs Group Inc. purchased a new position in NeuroOne Medical Technologies during the first quarter worth about $84,000. Hedge funds and other institutional investors 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.