Neonc Technologies (NASDAQ:NTHI) Issues Earnings Results

Neonc Technologies (NASDAQ:NTHI) released its quarterly earnings data on Monday. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.46), Zacks reports.

Neonc Technologies Stock Performance

NTHI opened at $3.38 on Monday. The company’s 50-day simple moving average is $4.18 and its two-hundred day simple moving average is $6.25. Neonc Technologies has a 52-week low of $3.01 and a 52-week high of $12.99.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NTHI shares. Maxim Group initiated coverage on Neonc Technologies in a research note on Monday, May 18th. They issued a “buy” rating and a $20.00 target price on the stock. Alliance Global Partners started coverage on Neonc Technologies in a research note on Tuesday, May 19th. They issued a “buy” rating and a $13.00 target price on the stock. Weiss Ratings lowered Neonc Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 24th. Finally, BTIG Research reissued a “buy” rating and set a $15.00 price objective on shares of Neonc Technologies in a research report on Tuesday, May 26th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Neonc Technologies presently has an average rating of “Hold” and a consensus price target of $16.00.

Institutional Investors Weigh In On Neonc Technologies

Large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE boosted its stake in shares of Neonc Technologies by 1.0% in the 3rd quarter. Bank of America Corp DE now owns 226,486 shares of the company’s stock worth $2,056,000 after buying an additional 2,207 shares during the last quarter. Vanguard Group Inc. purchased a new stake in Neonc Technologies during the third quarter valued at $1,279,000. 683 Capital Management LLC bought a new position in Neonc Technologies in the fourth quarter valued at about $442,000. State Street Corp lifted its holdings in Neonc Technologies by 9.9% in the fourth quarter. State Street Corp now owns 43,170 shares of the company’s stock valued at $357,000 after acquiring an additional 3,900 shares during the period. Finally, Royal Bank of Canada purchased a new position in Neonc Technologies in the first quarter worth about $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.