Neonc Technologies (NASDAQ:NTHI) CEO Thomas Chen Acquires 12,757 Shares of Stock

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) CEO Thomas Chen bought 12,757 shares of Neonc Technologies stock in a transaction that occurred on Tuesday, August 18th. The stock was bought at an average cost of $5.49 per share, for a total transaction of $70,035.93. Following the purchase, the chief executive officer owned 13,705 shares in the company, valued at $75,240.45. This represents a 1,345.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Neonc Technologies Price Performance

NASDAQ:NTHI traded down $0.07 during trading hours on Thursday, reaching $4.56. 190,264 shares of the company traded hands, compared to its average volume of 96,200. The firm’s 50-day moving average is $4.14 and its 200-day moving average is $5.95. Neonc Technologies Holdings, Inc. has a 1-year low of $3.01 and a 1-year high of $12.99.

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).

Institutional Trading of Neonc Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE grew 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 valued at $2,056,000 after buying an additional 2,207 shares during the period. State Street Corp increased its stake in shares of Neonc Technologies by 9.9% during the 4th quarter. State Street Corp now owns 43,170 shares of the company’s stock valued at $357,000 after acquiring an additional 3,900 shares during the last quarter. Barclays PLC lifted its holdings in shares of Neonc Technologies by 5,314.8% during the 4th quarter. Barclays PLC now owns 9,151 shares of the company’s stock worth $76,000 after acquiring an additional 8,982 shares during the period. Goldman Sachs Group Inc. purchased a new position in shares of Neonc Technologies during the 4th quarter worth about $124,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Neonc Technologies in the fourth quarter worth approximately $126,000.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NTHI. BTIG Research reissued a “buy” rating and issued a $15.00 target price on shares of Neonc Technologies in a research note on Tuesday, May 26th. Maxim Group began coverage on shares of Neonc Technologies in a research note on Monday, May 18th. They set a “buy” rating and a $20.00 price target 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, June 24th. Alliance Global Partners assumed coverage on shares of Neonc Technologies in a research note on Tuesday, May 19th. They issued a “buy” rating and a $13.00 target price for the company. Finally, Wall Street Zen cut shares of Neonc Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Neonc Technologies presently has a consensus rating of “Hold” and a consensus target price of $16.00.

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.