Neonc Technologies (NASDAQ:NTHI) Shares Down 10.3% – Here’s Why

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI)’s stock price traded down 10.3% on Thursday . The stock traded as low as $6.75 and last traded at $7.02. 113,238 shares were traded during mid-day trading, a decline of 7% from the average session volume of 121,856 shares. The stock had previously closed at $7.83.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neonc Technologies in a research report on Monday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Neonc Technologies has an average rating of “Sell”.

Neonc Technologies Stock Performance

The business’s 50 day moving average price is $9.16 and its 200-day moving average price is $7.66.

Neonc Technologies (NASDAQ:NTHI) last issued its quarterly earnings data on Friday, November 14th. The company reported ($0.45) earnings per share (EPS) for the quarter.

Insider Buying and Selling

In related news, President Amir F. Heshmatpour acquired 24,000 shares of the stock in a transaction on Friday, November 21st. The shares were purchased at an average price of $6.07 per share, for a total transaction of $145,680.00. Following the purchase, the president directly owned 2,986,000 shares in the company, valued at approximately $18,125,020. The trade was a 0.81% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have bought 31,100 shares of company stock worth $192,099 over the last 90 days.

Institutional Trading of Neonc Technologies

A number of hedge funds have recently made changes to their positions in the company. HCR Wealth Advisors acquired a new position in shares of Neonc Technologies in the second quarter valued at approximately $54,000. Foundations Investment Advisors LLC acquired a new position in Neonc Technologies in the 3rd quarter valued at approximately $100,000. SLT Holdings LLC bought a new position in shares of Neonc Technologies during the third quarter valued at $100,000. LVW Advisors LLC acquired a new position in shares of Neonc Technologies during the second quarter worth $108,000. Finally, Royal Bank of Canada acquired a new position in shares of Neonc Technologies during the first quarter worth $247,000.

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.