Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) Stock Has Average Target Price of $16.00

Shares of Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) have been given an average recommendation of “Hold” by the six ratings firms that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $16.00.

A number of equities research analysts have issued reports on NTHI shares. BTIG Research reissued a “buy” rating and set a $15.00 target price on shares of Neonc Technologies in a research note on Tuesday, September 8th. Wall Street Zen cut shares of Neonc Technologies from a “sell” rating to a “strong sell” rating in a report on Saturday. Roth Capital started coverage on shares of Neonc Technologies in a research note on Thursday, September 24th. They issued a “buy” rating on the stock. Weiss Ratings upgraded Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Finally, Zacks Research cut Neonc Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday.

Neonc Technologies Trading Up 9.9%

Shares of NTHI opened at $2.78 on Friday. The business’s 50-day moving average is $3.83 and its 200-day moving average is $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 posted its quarterly earnings results on Monday, August 10th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.46).

Insider Activity

In other news, CEO Amir F. Heshmatpour purchased 37,000 shares of Neonc Technologies stock in a transaction dated Friday, September 11th. The stock was 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 $11,498,110. This represents a 1.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas C. Chen purchased 12,757 shares of Neonc Technologies stock in a transaction dated Tuesday, August 18th. The shares were purchased 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 in the company, valued at $75,240.45. The trade was a 1,345.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 134,812 shares of company stock worth $530,149.

Hedge Funds Weigh In On Neonc Technologies

A number of hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new stake in Neonc Technologies in the second quarter valued at approximately $126,000. BlackRock Inc. bought a new stake in Neonc Technologies in the second quarter worth approximately $815,000. Westmount Partners LLC grew its position 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 in the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Neonc Technologies during the 2nd quarter worth $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.