Neonc Technologies (NASDAQ:NTHI) Posts Earnings Results

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

Neonc Technologies Trading Up 0.7%

Shares of Neonc Technologies stock traded up $0.04 during trading hours on Friday, reaching $5.50. 52,043 shares of the stock traded hands, compared to its average volume of 66,114. The company has a 50 day moving average price of $6.42 and a 200 day moving average price of $8.18. Neonc Technologies has a one year low of $3.20 and a one year high of $12.99.

Insider Activity

In other news, President Amir F. Heshmatpour purchased 10,000 shares of the business’s stock in a transaction on Friday, May 1st. The stock was acquired at an average cost of $4.16 per share, for a total transaction of $41,600.00. Following the purchase, the president directly owned 3,072,000 shares in the company, valued at $12,779,520. This trade represents a 0.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders bought 80,700 shares of company stock worth $423,590.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its stake in shares of Neonc Technologies by 1.0% during the 3rd quarter. Bank of America Corp DE now owns 226,486 shares of the company’s stock valued at $2,056,000 after acquiring an additional 2,207 shares during the period. State Street Corp grew 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 period. Barclays PLC grew its stake 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 valued at $76,000 after acquiring an additional 8,982 shares during the period. Goldman Sachs Group Inc. bought a new position in shares of Neonc Technologies during the 4th quarter valued at approximately $124,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Neonc Technologies during the 4th quarter valued at approximately $126,000.

Wall Street Analysts Forecast Growth

NTHI has been the subject of a number of recent research reports. BTIG Research initiated coverage on Neonc Technologies in a research note on Friday, April 24th. They set a “buy” rating and a $15.00 price target for the company. Weiss Ratings restated a “sell (e+)” rating on shares of Neonc Technologies in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.00.

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.