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

NeuroOne Medical Technologies Corporation (NASDAQ:NMTC) has been given a consensus recommendation of “Hold” by the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $1.9833.

Several research analysts have recently issued reports on NMTC shares. JonesTrading assumed coverage on NeuroOne Medical Technologies in a research note on Monday, March 2nd. They set a “buy” rating and a $1.50 price target for the company. Wall Street Zen upgraded shares of NeuroOne Medical Technologies to a “sell” rating in a research report on Saturday, February 21st. Finally, Zacks Research downgraded NeuroOne Medical Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 13th.

NeuroOne Medical Technologies Price Performance

Shares of NASDAQ:NMTC opened at $0.80 on Friday. The firm has a market capitalization of $40.17 million, a price-to-earnings ratio of -4.68 and a beta of 0.63. The business’s 50 day simple moving average is $0.78 and its 200-day simple moving average is $0.79. NeuroOne Medical Technologies has a 12 month low of $0.40 and a 12 month high of $1.16.

NeuroOne Medical Technologies (NASDAQ:NMTC) last released its quarterly earnings data 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 firm had revenue of $2.89 million during 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%.

Insider Transactions at NeuroOne Medical Technologies

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 shares were bought at an average cost of $0.67 per share, with a total value of $670,000.00. Following the purchase, the insider directly owned 1,000,000 shares of the company’s stock, valued at approximately $670,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 14,637 shares of company stock valued at $11,710. 11.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NeuroOne Medical Technologies

Several hedge funds have recently made changes to their positions in NMTC. Sio Capital Management LLC acquired a new position in NeuroOne Medical Technologies in the second quarter valued at $2,390,000. Vanguard Group Inc. boosted its position in shares of NeuroOne Medical Technologies by 31.2% in the third quarter. Vanguard Group Inc. now owns 1,578,237 shares of the company’s stock worth $1,403,000 after acquiring an additional 375,639 shares during the last quarter. Essex Investment Management Co. LLC purchased a new stake in NeuroOne Medical Technologies in the fourth quarter valued at approximately $143,000. Virtu Financial LLC acquired a new position in NeuroOne Medical Technologies during the third quarter worth approximately $88,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of NeuroOne Medical Technologies in the 1st quarter valued at $84,000. Institutional investors and hedge funds own 16.07% of the company’s stock.

NeuroOne Medical Technologies Company Profile

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.