Neonc Technologies (NASDAQ:NTHI) Releases Quarterly Earnings Results, Misses Estimates By $0.16 EPS

Neonc Technologies (NASDAQ:NTHI) posted its quarterly earnings results on Friday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.16), Zacks reports.

Neonc Technologies Price Performance

NASDAQ NTHI traded up $0.04 during trading hours on Friday, hitting $5.50. The company’s stock had a trading volume of 52,043 shares, compared to its average volume of 66,114. Neonc Technologies has a 12 month low of $3.20 and a 12 month high of $12.99. The company’s 50 day simple moving average is $6.42 and its two-hundred day simple moving average is $8.18.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neonc Technologies in a research report on Friday, March 27th. BTIG Research assumed coverage on Neonc Technologies in a research report on Friday, April 24th. They issued a “buy” rating and a $15.00 price target for the company. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Neonc Technologies presently has an average rating of “Hold” and an average price target of $15.00.

Insider Buying and Selling

In other Neonc Technologies news, President Amir F. Heshmatpour acquired 10,000 shares of Neonc Technologies stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average cost of $4.16 per share, for a total transaction of $41,600.00. Following the acquisition, the president owned 3,072,000 shares of the company’s stock, valued at $12,779,520. This represents a 0.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders bought 80,700 shares of company stock valued at $423,590.

Institutional Investors Weigh In On Neonc Technologies

Several large investors have recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in Neonc Technologies by 1.0% in the 3rd quarter. Bank of America Corp DE now owns 226,486 shares of the company’s stock worth $2,056,000 after buying an additional 2,207 shares in the last quarter. State Street Corp increased its holdings in Neonc Technologies by 9.9% in the 4th quarter. State Street Corp now owns 43,170 shares of the company’s stock worth $357,000 after buying an additional 3,900 shares in the last quarter. Barclays PLC increased its holdings in Neonc Technologies by 5,314.8% in the 4th quarter. Barclays PLC now owns 9,151 shares of the company’s stock worth $76,000 after buying an additional 8,982 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Neonc Technologies in the 4th quarter worth about $124,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Neonc Technologies in the 4th quarter worth about $126,000.

Neonc Technologies Company Profile

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.