Neothetics, Inc. (NASDAQ:NEOT) was upgraded by equities research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Tuesday.

Neothetics (NASDAQ NEOT) traded up 231.15% during midday trading on Tuesday, reaching $1.72. 62,013,233 shares of the company’s stock traded hands. The stock has a 50-day moving average of $0.40 and a 200 day moving average of $1.14. Neothetics has a 52-week low of $0.30 and a 52-week high of $2.63. The company’s market cap is $23.79 million.

Neothetics (NASDAQ:NEOT) last posted its earnings results on Thursday, August 10th. The biotechnology company reported ($0.20) EPS for the quarter, hitting analysts’ consensus estimates of ($0.20). On average, analysts anticipate that Neothetics will post ($0.61) earnings per share for the current fiscal year.

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An institutional investor recently bought a new position in Neothetics stock. Virtu KCG Holdings LLC bought a new stake in shares of Neothetics, Inc. (NASDAQ:NEOT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 278,219 shares of the biotechnology company’s stock, valued at approximately $150,000. Virtu KCG Holdings LLC owned 2.01% of Neothetics as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 4.65% of the company’s stock.

Neothetics Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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