Home / Healthcare / Neothetics Inc. (NEOT) Gives Up 6.4% at Midday on September 23, Pressuring Health Care Stocks

Neothetics Inc. (NEOT) Gives Up 6.4% at Midday on September 23, Pressuring Health Care Stocks

Neothetics Inc. (NEOT) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the health care sector halfway through the trading day. At the lunch break, shares of NEOT have fallen 6.4% to $1.17 after closing the day prior at $1.25. So far, the stock has traded as high as $1.3 and as low as $1.16. Today’s decline has come with about 99,910 shares changing hands, compared to an average 30-day volume of 249,108 for Neothetics Inc.. The price is currently below the 30-day volume weighted average price of $1.2 for NEOT.

The share depreciation gives the company a market capitalization of $17.27 million based upon 13.82 million shares outstanding. It also means that NEOT has a price-to-book ratio of 1.08:1.

In the past 52 weeks, shares of NEOT have traded as low as $0.532 and as high as $12.25. Technical traders will take note that at $1.17, shares of NEOT are trading above their 200-day MA at $1.14 and above their 50-day MA at $1.0. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.

Who is NEOT?

Neothetics Inc is a clinical-stage pharmaceutical company developing therapeutics for the aesthetic market. Its product is a novel injectable treatment for the reduction of central abdominal bulging due to subcutaneous fat in non-obese patients. The company’s 16 employees are led by CEO from the corporate headquarters at 9171 Towne Centre Drive in San Diego, CA.

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