Neonc Technologies (NASDAQ:NTHI) Stock Rating Lowered by Zacks Research

Neonc Technologies (NASDAQ:NTHI) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday, Zacks reports.

Several other brokerages have also recently issued reports on NTHI. Weiss Ratings upgraded shares of Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Roth Capital began coverage on Neonc Technologies in a report on Thursday, September 24th. They issued a “buy” rating for the company. Wall Street Zen lowered shares of Neonc Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, BTIG Research reiterated a “buy” rating and set a $15.00 target price on shares of Neonc Technologies in a research note on Tuesday, September 8th. Four research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.00.

Neonc Technologies Price Performance

Shares of NASDAQ NTHI opened at $2.53 on Wednesday. Neonc Technologies has a fifty-two week low of $2.52 and a fifty-two week high of $12.10. The stock’s 50-day simple moving average is $3.84 and its 200-day simple moving average is $4.55.

Neonc Technologies (NASDAQ:NTHI) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.46).

Insider Activity

In related news, CEO Amir F. Heshmatpour purchased 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average price of $3.30 per share, with a total value of $115,500.00. Following the completion of the transaction, the chief executive officer owned 3,183,000 shares of the company’s stock, valued at approximately $10,503,900. This trade represents a 1.11% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas C. Chen acquired 12,757 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was purchased at an average price of $5.49 per share, for a total transaction of $70,035.93. Following the completion of the acquisition, the chief executive officer owned 13,705 shares in the company, valued at approximately $75,240.45. This trade represents a 1,345.68% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 134,812 shares of company stock worth $530,149.

Institutional Investors Weigh In On Neonc Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in shares of Neonc Technologies by 5.0% during the first quarter. Bank of America Corp DE now owns 235,396 shares of the company’s stock worth $1,650,000 after acquiring an additional 11,108 shares during the last quarter. Westmount Partners LLC increased its stake in shares of 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 buying an additional 153,858 shares during the last quarter. BlackRock Inc. bought a new position in Neonc Technologies during the 2nd quarter valued at $815,000. Finally, Global Retirement Partners LLC acquired a new position in Neonc Technologies during the 2nd quarter worth $126,000.

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.