Neonc Technologies (NASDAQ:NTHI) Raised to Sell at Wall Street Zen

Neonc Technologies (NASDAQ:NTHI) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Sunday, Wall Street Zen reports.

A number of other equities analysts have also weighed in on NTHI. Roth Capital assumed coverage on shares of Neonc Technologies in a report on Thursday, September 24th. They issued a “buy” rating for the company. Zacks Research lowered Neonc Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 7th. BTIG Research reissued a “buy” rating and issued a $15.00 target price on shares of Neonc Technologies in a report on Tuesday, September 8th. Finally, Weiss Ratings upgraded Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 6th. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Neonc Technologies presently has a consensus rating of “Hold” and an average price target of $16.00.

Neonc Technologies Stock Up 0.7%

Shares of NASDAQ NTHI opened at $2.72 on Friday. Neonc Technologies has a fifty-two week low of $2.50 and a fifty-two week high of $12.00. The company has a 50 day simple moving average of $3.73 and a two-hundred day simple moving average of $4.33.

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

Insider Buying and Selling

In other Neonc Technologies news, CEO Thomas C. Chen acquired 12,757 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was purchased at an average price of $5.49 per share, with a total value of $70,035.93. Following the transaction, the chief executive officer directly owned 13,705 shares in the company, valued at approximately $75,240.45. The trade was a 1,345.68% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Amir F. Heshmatpour acquired 35,000 shares of the business’s stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average cost of $3.30 per share, with a total value of $115,500.00. Following the transaction, the chief executive officer owned 3,183,000 shares in the company, valued at approximately $10,503,900. This trade represents a 1.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 134,812 shares of company stock valued at $530,149.

Hedge Funds Weigh In On Neonc Technologies

A number of institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in Neonc Technologies by 5.0% during the first quarter. Bank of America Corp DE now owns 235,396 shares of the company’s stock valued at $1,650,000 after purchasing an additional 11,108 shares in the last quarter. Westmount Partners LLC grew its holdings in Neonc Technologies by 355.2% during the second quarter. Westmount Partners LLC now owns 197,178 shares of the company’s stock valued at $893,000 after purchasing an additional 153,858 shares during the period. BlackRock Inc. bought a new stake in Neonc Technologies during the second quarter valued at about $815,000. Finally, Global Retirement Partners LLC purchased a new stake in Neonc Technologies in the second quarter worth about $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.