Insider Buying: Neonc Technologies (NASDAQ:NTHI) CEO Acquires 37,000 Shares of Stock

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) CEO Amir Heshmatpour bought 37,000 shares of the business’s stock in a transaction dated Friday, September 11th. The shares were acquired at an average cost of $3.67 per share, with a total value of $135,790.00. Following the completion of the purchase, the chief executive officer owned 3,133,000 shares in the company, valued at approximately $11,498,110. This represents a 1.20% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Neonc Technologies Stock Performance

Neonc Technologies stock opened at $3.68 on Monday. The stock’s 50 day moving average price is $4.07 and its 200 day moving average price is $5.36. Neonc Technologies Holdings, Inc. has a 1-year low of $3.01 and a 1-year high of $12.99.

Neonc Technologies (NASDAQ:NTHI) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.46).

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NTHI shares. Maxim Group initiated coverage on shares of Neonc Technologies in a research report on Monday, May 18th. They set a “buy” rating and a $20.00 target price on the stock. Alliance Global Partners began coverage on shares of Neonc Technologies in a research report on Tuesday, May 19th. They set a “buy” rating and a $13.00 price target for the company. Wall Street Zen lowered Neonc Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings upgraded Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, August 31st. Finally, BTIG Research reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Neonc Technologies in a research note on Tuesday, September 8th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Neonc Technologies currently has a consensus rating of “Hold” and a consensus target price of $16.00.

Institutional Trading of Neonc Technologies

A number of large investors have recently made changes to their positions in NTHI. Royal Bank of Canada acquired a new position in Neonc Technologies in the 1st quarter valued at about $247,000. Bank of America Corp DE acquired a new stake in shares of Neonc Technologies during the 2nd quarter worth about $801,000. Vanguard Group Inc. acquired a new stake in shares of Neonc Technologies during the 3rd quarter worth about $1,279,000. Goldman Sachs Group Inc. purchased a new stake in shares of Neonc Technologies during the fourth quarter worth about $124,000. Finally, State Street Corp raised its position 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 valued at $357,000 after buying 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.