Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) Stock Rated “Hold” by Wall Street Brokerages

Shares of Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) have been assigned an average recommendation of “Hold” from the six analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $16.00.

Several equities analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Neonc Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 21st. Wall Street Zen upgraded shares of Neonc Technologies from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 18th. BTIG Research reissued a “buy” rating and set a $15.00 target price on shares of Neonc Technologies in a research report on Tuesday, September 8th. Zacks Research downgraded shares of Neonc Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 7th. Finally, Roth Capital began coverage on shares of Neonc Technologies in a research note on Thursday, September 24th. They set a “buy” rating on the stock.

Neonc Technologies Stock Performance

Shares of NTHI stock opened at $3.07 on Thursday. Neonc Technologies has a 1-year low of $2.50 and a 1-year high of $12.00. The stock’s fifty day moving average price is $3.45 and its 200 day moving average price is $5.49.

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

Insider Buying and Selling at Neonc Technologies

In related news, CEO Amir Heshmatpour acquired 35,000 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were purchased at an average cost of $3.30 per share, with a total value of $115,500.00. Following the completion of the acquisition, the chief executive officer directly owned 3,183,000 shares of the company’s stock, valued at $10,503,900. This represents a 1.11% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Chen acquired 12,757 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were bought at an average cost of $5.49 per share, for a total transaction of $70,035.93. Following the completion of the acquisition, the chief executive officer directly owned 13,705 shares of the company’s stock, valued at approximately $75,240.45. The trade was a 1,345.68% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 134,812 shares of company stock valued at $530,149 over the last quarter.

Institutional Trading of Neonc Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTHI. Bank of America Corp DE purchased a new position in shares of Neonc Technologies in the second quarter worth about $1,017,000. BlackRock Inc. acquired a new stake in shares of Neonc Technologies during the second quarter worth about $815,000. Westmount Partners LLC lifted its holdings in shares of Neonc Technologies by 355.2% during the second quarter. Westmount Partners LLC now owns 197,178 shares of the company’s stock worth $893,000 after purchasing an additional 153,858 shares during the period. Finally, Global Retirement Partners LLC purchased a new stake in Neonc Technologies in the second quarter valued at approximately $126,000.

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.