Neonc Technologies (NASDAQ:NTHI) Posts Quarterly Earnings Results, Misses Expectations By $0.16 EPS

Neonc Technologies (NASDAQ:NTHI) posted its quarterly earnings results on Friday. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.16), Zacks reports.

Neonc Technologies Price Performance

NTHI stock traded up $0.04 during midday trading on Friday, hitting $5.50. 52,043 shares of the company’s stock were exchanged, compared to its average volume of 66,114. The business has a 50-day simple moving average of $6.42 and a two-hundred day simple moving average of $8.18. Neonc Technologies has a 1-year low of $3.20 and a 1-year high of $12.99.

Analysts Set New Price Targets

Several equities research analysts recently commented on NTHI shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neonc Technologies in a report on Friday, March 27th. BTIG Research started coverage on Neonc Technologies in a report on Friday, April 24th. They issued a “buy” rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Neonc Technologies presently has an average rating of “Hold” and an average target price of $15.00.

Insider Transactions at Neonc Technologies

In other Neonc Technologies news, President Amir F. Heshmatpour bought 10,000 shares of the business’s stock in a transaction on Friday, May 1st. The stock was bought at an average price of $4.16 per share, with a total value of $41,600.00. Following the completion of the purchase, the president directly owned 3,072,000 shares in the company, valued at $12,779,520. The trade was a 0.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 80,700 shares of company stock worth $423,590 over the last ninety days.

Institutional Investors Weigh In On Neonc Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTHI. Barclays PLC increased its stake in Neonc Technologies by 5,314.8% during the fourth quarter. Barclays PLC now owns 9,151 shares of the company’s stock worth $76,000 after acquiring an additional 8,982 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Neonc Technologies during the fourth quarter worth $124,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Neonc Technologies during the fourth quarter worth $126,000. Royal Bank of Canada purchased a new position in shares of Neonc Technologies during the first quarter worth $247,000. Finally, State Street Corp boosted its position in shares of Neonc Technologies by 9.9% during the fourth quarter. State Street Corp now owns 43,170 shares of the company’s stock worth $357,000 after buying an additional 3,900 shares during the period.

Neonc Technologies Company Profile

Neonc Technologies Holdings, Inc develops novel molecular technology that provides enhanced targeted delivery of technologies for treating central nervous system diseases. Its lead products in development include NEO100, which is in Phase 2a clinical trials for treating glioblastoma; and NEO212, a covalently conjugated molecule combining the chemotherapeutic drug temozolomide with perillyl alcohol that is completed preclinical testing. The company was incorporated in 2023 and is based in Los Angeles, California.