Neonc Technologies (NASDAQ:NTHI) CEO Amir Heshmatpour Purchases 12,000 Shares of Stock

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) CEO Amir Heshmatpour bought 12,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $3.79 per share, with a total value of $45,480.00. Following the completion of the purchase, the chief executive officer owned 3,084,000 shares of the company’s stock, valued at approximately $11,688,360. The trade was a 0.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Neonc Technologies Trading Up 16.4%

NASDAQ:NTHI traded up $0.69 during trading hours on Monday, reaching $4.91. 378,880 shares of the company’s stock were exchanged, compared to its average volume of 92,168. Neonc Technologies Holdings, Inc. has a 12 month low of $3.01 and a 12 month high of $12.99. The business’s 50-day simple moving average is $4.11 and its two-hundred day simple moving average is $6.08.

Neonc Technologies (NASDAQ:NTHI) last posted its quarterly earnings results on Friday, August 14th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.46).

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE acquired a new position in Neonc Technologies during the second quarter valued at $1,017,000. BlackRock Inc. acquired a new stake in Neonc Technologies during the 2nd quarter worth about $815,000. Global Retirement Partners LLC acquired a new stake in Neonc Technologies during the 2nd quarter worth about $126,000. Westmount Partners LLC grew its stake in Neonc Technologies by 355.2% during the 2nd quarter. Westmount Partners LLC now owns 197,178 shares of the company’s stock valued at $893,000 after acquiring an additional 153,858 shares in the last quarter. Finally, 683 Capital Management LLC acquired a new position in shares of Neonc Technologies in the 4th quarter valued at about $442,000.

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.