Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) Short Interest Up 19.9% in January

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) was the target of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 172,947 shares, a growth of 19.9% from the January 15th total of 144,184 shares. Based on an average daily trading volume, of 68,792 shares, the days-to-cover ratio is currently 2.5 days. Based on an average daily trading volume, of 68,792 shares, the days-to-cover ratio is currently 2.5 days.

Neonc Technologies Stock Performance

Shares of NASDAQ NTHI traded down $0.98 during mid-day trading on Tuesday, reaching $9.26. 52,580 shares of the company were exchanged, compared to its average volume of 67,664. Neonc Technologies has a twelve month low of $3.20 and a twelve month high of $25.00. The company’s 50-day simple moving average is $9.09 and its 200-day simple moving average is $8.84.

Neonc Technologies (NASDAQ:NTHI) last issued its quarterly earnings results on Friday, November 14th. The company reported ($0.45) earnings per share (EPS) for the quarter.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Zacks Research raised Neonc Technologies to a “hold” rating in a report on Wednesday, January 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of Neonc Technologies in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

Insider Buying and Selling at Neonc Technologies

In other Neonc Technologies news, President Amir F. Heshmatpour purchased 24,000 shares of Neonc Technologies stock in a transaction on Friday, November 21st. The shares were purchased at an average cost of $6.07 per share, with a total value of $145,680.00. Following the completion of the transaction, the president directly owned 2,986,000 shares in the company, valued at approximately $18,125,020. This represents a 0.81% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders bought 31,100 shares of company stock valued at $192,099.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. HighPoint Advisor Group LLC increased its holdings in shares of Neonc Technologies by 424.8% during the third quarter. HighPoint Advisor Group LLC now owns 950,232 shares of the company’s stock valued at $8,628,000 after acquiring an additional 769,163 shares in the last quarter. Bank of America Corp DE purchased a new position in Neonc Technologies in the second quarter worth about $801,000. Vanguard Group Inc. bought a new stake in shares of Neonc Technologies during the 3rd quarter worth approximately $1,279,000. Global Retirement Partners LLC purchased a new stake in Neonc Technologies in the third quarter worth about $434,000. Finally, Royal Bank of Canada purchased a new position in shares of Neonc Technologies in the 1st quarter worth approximately $247,000.

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.