Neonc Technologies (NASDAQ:NTHI) Issues Earnings Results, Misses Expectations By $0.46 EPS

Neonc Technologies (NASDAQ:NTHI – Get Free Report) issued its earnings results on Monday. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.46), Zacks reports.

Neonc Technologies Stock Down 2.0%

NASDAQ NTHI opened at $3.43 on Monday. Neonc Technologies has a 12 month low of $3.01 and a 12 month high of $12.99. The company has a 50-day moving average of $4.18 and a 200-day moving average of $6.25.

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Hedge Funds Weigh In On Neonc Technologies

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its position 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 worth $76,000 after buying an additional 8,982 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Neonc Technologies during the fourth quarter worth about $124,000. OMERS ADMINISTRATION Corp acquired a new position in Neonc Technologies during the 4th quarter worth approximately $126,000. Royal Bank of Canada acquired a new position in shares of Neonc Technologies during the first quarter worth $247,000. Finally, State Street Corp boosted its position in 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 buying an additional 3,900 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Maxim Group initiated coverage on shares of Neonc Technologies in a research report on Monday, May 18th. They set a “buy” rating and a $20.00 price target for the company. Weiss Ratings cut Neonc Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 24th. Alliance Global Partners began coverage on shares of Neonc Technologies in a research report on Tuesday, May 19th. They issued a “buy” rating and a $13.00 price objective on the stock. Finally, BTIG Research reiterated a “buy” rating and issued a $15.00 price objective on shares of Neonc Technologies in a research report on Tuesday, May 26th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $16.00.

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About Neonc Technologies

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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.

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