Neonc Technologies (NASDAQ:NTHI) Posts Quarterly Earnings Results, Misses Estimates By $0.35 EPS

Neonc Technologies (NASDAQ:NTHI) released its earnings results on Tuesday. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.35), FiscalAI reports.

Neonc Technologies Price Performance

Shares of Neonc Technologies stock opened at $7.01 on Wednesday. The firm has a fifty day moving average price of $9.08 and a 200 day moving average price of $9.35. Neonc Technologies has a 1 year low of $3.20 and a 1 year high of $16.00.

Institutional Investors Weigh In On Neonc Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its stake 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 valued at $76,000 after buying an additional 8,982 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in Neonc Technologies in the fourth quarter valued at approximately $124,000. OMERS ADMINISTRATION Corp purchased a new stake in Neonc Technologies in the 4th quarter worth approximately $126,000. Royal Bank of Canada purchased a new stake in Neonc Technologies in the 1st quarter worth approximately $247,000. Finally, State Street Corp grew its stake in shares of Neonc Technologies by 9.9% during the 4th quarter. State Street Corp now owns 43,170 shares of the company’s stock worth $357,000 after purchasing an additional 3,900 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NTHI shares. Zacks Research upgraded Neonc Technologies to a “hold” rating in a research note on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neonc Technologies in a report on Friday. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce”.

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.