Neonc Technologies (NASDAQ:NTHI) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Neonc Technologies (NASDAQ:NTHI – Free Report) from a sell rating to a strong sell rating in a report published on Saturday morning,Wall Street Zen reports.

Several other research firms have also recently weighed in on NTHI. Zacks Research cut shares of Neonc Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 7th. Roth Capital began coverage on shares of Neonc Technologies in a report on Thursday, September 24th. They set a “buy” rating for the company. Weiss Ratings upgraded shares of Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Finally, BTIG Research reissued a “buy” rating and issued 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. Based on data from MarketBeat, Neonc Technologies currently has an average rating of “Hold” and an average target price of $16.00.

Check Out Our Latest Stock Report on NTHI

Neonc Technologies Price Performance

Shares of NASDAQ NTHI opened at $2.73 on Friday. The business has a 50-day moving average of $3.81 and a 200-day moving average of $4.48. Neonc Technologies has a 12 month low of $2.50 and a 12 month high of $12.09.

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

Insider Activity

In other news, CEO Thomas C. Chen acquired 12,757 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were bought at an average cost of $5.49 per share, with a total value of $70,035.93. Following the acquisition, the chief executive officer owned 13,705 shares in the company, valued at approximately $75,240.45. This represents a 1,345.68% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Amir F. Heshmatpour acquired 37,000 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were purchased at an average cost of $3.67 per share, for a total transaction of $135,790.00. Following the completion of the acquisition, the chief executive officer owned 3,133,000 shares in the company, valued at $11,498,110. This represents a 1.20% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 134,812 shares of company stock worth $530,149 over the last quarter.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted its holdings in shares of Neonc Technologies by 5.0% in the 1st 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 boosted its stake in shares of Neonc Technologies by 355.2% in the 2nd quarter. Westmount Partners LLC now owns 197,178 shares of the company’s stock valued at $893,000 after purchasing an additional 153,858 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Neonc Technologies in the 2nd quarter valued at $815,000. Finally, Global Retirement Partners LLC bought a new position in shares of Neonc Technologies during the 2nd quarter valued at $126,000.

Neonc Technologies Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Neonc Technologies (NASDAQ:NTHI)

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