Neonc Technologies (NASDAQ:NTHI) Stock Price Down 3.8% – Should You Sell?

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) fell 3.8% during mid-day trading on Monday . The company traded as low as $4.29 and last traded at $4.32. Approximately 69,061 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 71,995 shares. The stock had previously closed at $4.49.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NTHI. Maxim Group started coverage on shares of Neonc Technologies in a report on Monday, May 18th. They set a “buy” rating and a $20.00 target price on the stock. Weiss Ratings downgraded Neonc Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 24th. BTIG Research restated a “buy” rating and set a $15.00 price objective on shares of Neonc Technologies in a research note on Tuesday, May 26th. Finally, Alliance Global Partners assumed coverage on Neonc Technologies in a report on Tuesday, May 19th. They issued a “buy” rating and a $13.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.00.

Neonc Technologies Stock Down 3.8%

The firm’s fifty day simple moving average is $4.86 and its 200 day simple moving average is $6.94.

Neonc Technologies (NASDAQ:NTHI) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.16).

Insiders Place Their Bets

In other Neonc Technologies news, President Amir F. Heshmatpour bought 10,000 shares of Neonc Technologies stock in a transaction on Friday, May 1st. The shares were purchased at an average price of $4.16 per share, with a total value of $41,600.00. Following the acquisition, the president owned 3,072,000 shares in the company, valued at $12,779,520. This trade represents a 0.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired 30,500 shares of company stock worth $138,240 in the last three months.

Hedge Funds Weigh In On Neonc Technologies

A number of institutional investors have recently modified their holdings of NTHI. Barclays PLC lifted its position in shares of Neonc Technologies by 5,314.8% during the 4th quarter. Barclays PLC now owns 9,151 shares of the company’s stock worth $76,000 after buying an additional 8,982 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Neonc Technologies in the fourth quarter valued at about $124,000. OMERS ADMINISTRATION Corp acquired a new position in Neonc Technologies during the fourth quarter worth about $126,000. Royal Bank of Canada acquired a new position in Neonc Technologies during the first quarter worth about $247,000. Finally, State Street Corp lifted its holdings in shares of Neonc Technologies by 9.9% in the fourth quarter. State Street Corp now owns 43,170 shares of the company’s stock worth $357,000 after acquiring an additional 3,900 shares during the last quarter.

About Neonc Technologies

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.