Neothetics, Inc. (NEOT) Sees Large Growth in Short Interest
Neothetics, Inc. (NASDAQ:NEOT) was the recipient of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 1,280,217 shares, a growth of 48.6% from the July 31st total of 861,273 shares. Currently, 14.6% of the company’s stock are short sold. Based on an average daily volume of 902,529 shares, the days-to-cover ratio is currently 1.4 days.
A hedge fund recently bought a new stake in Neothetics stock. Virtu KCG Holdings LLC purchased a new position in Neothetics, Inc. (NASDAQ:NEOT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 278,219 shares of the biotechnology company’s stock, valued at approximately $150,000. Virtu KCG Holdings LLC owned approximately 2.01% of Neothetics at the end of the most recent quarter. Institutional investors own 4.65% of the company’s stock.
Separately, ValuEngine lowered Neothetics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th.
Neothetics (NEOT) opened at 0.3566 on Friday. The firm’s market cap is $4.93 million. Neothetics has a 52-week low of $0.30 and a 52-week high of $2.63. The firm’s 50 day moving average price is $0.44 and its 200 day moving average price is $1.37.
Neothetics (NASDAQ:NEOT) last posted its earnings results on Thursday, August 10th. The biotechnology company reported ($0.20) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.20). Equities research analysts anticipate that Neothetics will post ($0.61) EPS for the current fiscal year.
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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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