Short Interest in Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) Increases By 23.2%

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) was the recipient of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 289,781 shares, a growth of 23.2% from the March 15th total of 235,277 shares. Based on an average daily volume of 32,581 shares, the days-to-cover ratio is currently 8.9 days.

Insider Activity at Neonc Technologies

In other news, President Amir F. Heshmatpour acquired 20,000 shares of Neonc Technologies stock in a transaction dated Thursday, April 2nd. The shares were purchased at an average cost of $6.09 per share, for a total transaction of $121,800.00. Following the transaction, the president owned 3,012,000 shares of the company’s stock, valued at $18,343,080. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders bought 50,200 shares of company stock worth $285,350.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. 683 Capital Management LLC purchased a new position in shares of Neonc Technologies in the 4th quarter valued at approximately $442,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Neonc Technologies in the 4th quarter valued at approximately $126,000. Barclays PLC lifted its stake in shares of Neonc Technologies by 5,314.8% in the 4th quarter. Barclays PLC now owns 9,151 shares of the company’s stock valued at $76,000 after purchasing an additional 8,982 shares during the period. State Street Corp lifted its stake in shares of Neonc Technologies by 9.9% in the 4th quarter. State Street Corp now owns 43,170 shares of the company’s stock valued at $357,000 after purchasing an additional 3,900 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Neonc Technologies in the 4th quarter valued at approximately $124,000.

Neonc Technologies Trading Down 2.7%

NASDAQ NTHI traded down $0.14 on Thursday, hitting $5.02. The company’s stock had a trading volume of 38,376 shares, compared to its average volume of 52,997. Neonc Technologies has a 52-week low of $3.20 and a 52-week high of $12.99. The company’s 50-day simple moving average is $8.31 and its 200 day simple moving average is $8.94.

Analyst Ratings Changes

NTHI has been the topic of several recent research reports. Zacks Research upgraded Neonc Technologies to a “hold” rating in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neonc Technologies in a research report on Friday, March 27th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Neonc Technologies currently has a consensus rating of “Reduce”.

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.