Neonc Technologies (NASDAQ:NTHI) Stock Moved Down to Strong Sell by Wall Street Zen

Wall Street Zen downgraded shares of Neonc Technologies (NASDAQ:NTHI) from a sell rating to a strong sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

NTHI has been the subject of several other research reports. BTIG Research reissued a “buy” rating and issued a $15.00 target price on shares of Neonc Technologies in a research note on Tuesday, September 8th. Weiss Ratings raised shares of Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday. Roth Capital began coverage on shares of Neonc Technologies in a report on Thursday, September 24th. They set a “buy” rating for the company. Finally, Zacks Research lowered shares of Neonc Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.00.

Neonc Technologies Price Performance

Neonc Technologies stock opened at $2.78 on Friday. The stock has a fifty day moving average of $3.83 and a two-hundred day moving average of $4.54. Neonc Technologies has a fifty-two week low of $2.50 and a fifty-two week high of $12.09.

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

Insider Transactions at Neonc Technologies

In related news, CEO Amir F. Heshmatpour acquired 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, for a total transaction of $135,790.00. Following the acquisition, the chief executive officer directly owned 3,133,000 shares in the company, valued at approximately $11,498,110. The trade was a 1.20% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas C. Chen bought 12,757 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was bought at an average price of $5.49 per share, with a total value of $70,035.93. Following the completion of the acquisition, the chief executive officer owned 13,705 shares of the company’s stock, valued at $75,240.45. This trade represents a 1,345.68% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 134,812 shares of company stock valued at $530,149.

Institutional Trading of Neonc Technologies

Several institutional investors have recently made changes to their positions in NTHI. Bank of America Corp DE purchased a new position in shares of Neonc Technologies in the 2nd quarter worth $1,017,000. BlackRock Inc. acquired a new stake in Neonc Technologies during the second quarter worth about $815,000. Global Retirement Partners LLC acquired a new stake in Neonc Technologies during the second quarter worth about $126,000. Finally, Westmount Partners LLC increased its stake in 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 acquiring an additional 153,858 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.