Neonc Technologies (NASDAQ:NTHI) Cut to Strong Sell at Zacks Research

Neonc Technologies (NASDAQ:NTHI) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday, Zacks reports.

A number of other research analysts have also recently commented on NTHI. Wall Street Zen cut shares of Neonc Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. BTIG Research reiterated a “buy” rating and set a $15.00 target price on shares of Neonc Technologies in a report on Tuesday, September 8th. Roth Capital assumed coverage on Neonc Technologies in a research report on Thursday, September 24th. They set a “buy” rating on the stock. Finally, Weiss Ratings upgraded shares of Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.00.

Neonc Technologies Stock Down 6.6%

NTHI stock opened at $2.53 on Wednesday. Neonc Technologies has a 12 month low of $2.52 and a 12 month high of $12.10. The company has a 50-day moving average price of $3.84 and a 200 day moving average price of $4.55.

Neonc Technologies (NASDAQ:NTHI) last announced 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).

Insider Transactions at Neonc Technologies

In other news, CEO Amir F. Heshmatpour bought 37,000 shares of the 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 purchase, the chief executive officer directly owned 3,133,000 shares in the company, valued at $11,498,110. The trade was a 1.20% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas C. Chen purchased 12,757 shares of Neonc Technologies stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired at an average cost of $5.49 per share, with a total value of $70,035.93. Following the acquisition, the chief executive officer directly owned 13,705 shares in the company, valued at $75,240.45. This trade represents a 1,345.68% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 134,812 shares of company stock valued at $530,149.

Institutional Investors Weigh In On Neonc Technologies

Institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC purchased a new stake in shares of Neonc Technologies during the second quarter worth $126,000. BlackRock Inc. acquired a new stake in Neonc Technologies in the second quarter valued at approximately $815,000. Westmount Partners LLC lifted its stake in Neonc Technologies by 355.2% in the second quarter. Westmount Partners LLC now owns 197,178 shares of the company’s stock worth $893,000 after acquiring an additional 153,858 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Neonc Technologies during the 2nd quarter worth approximately $1,017,000.

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.