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

Wall Street Zen lowered shares of Neonc Technologies (NASDAQ:NTHI) from a hold rating to a sell rating in a research note released on Saturday morning.

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

Neonc Technologies Stock Performance

Shares of NTHI stock opened at $4.91 on Friday. Neonc Technologies has a 52-week low of $3.01 and a 52-week high of $12.99. The firm has a fifty day moving average of $4.11 and a 200-day moving average of $6.05.

Neonc Technologies (NASDAQ:NTHI) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.46).

Insider Buying and Selling at Neonc Technologies

In other news, CEO Amir F. Heshmatpour bought 12,000 shares of the stock in a transaction dated Friday, August 14th. The shares were acquired at an average price of $3.79 per share, with a total value of $45,480.00. Following the acquisition, the chief executive officer owned 3,084,000 shares in the company, valued at $11,688,360. This trade represents a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Neonc Technologies

Several institutional investors have recently added to or reduced their stakes in NTHI. Bank of America Corp DE acquired a new position in Neonc Technologies in the second quarter valued at about $1,017,000. BlackRock Inc. acquired a new stake in shares of Neonc Technologies during the second quarter worth approximately $815,000. Global Retirement Partners LLC acquired a new stake in shares of Neonc Technologies during the second quarter worth approximately $126,000. Westmount Partners LLC increased its holdings in shares of Neonc Technologies by 355.2% during the second quarter. Westmount Partners LLC now owns 197,178 shares of the company’s stock worth $893,000 after buying an additional 153,858 shares in the last quarter. Finally, 683 Capital Management LLC bought a new position in shares of Neonc Technologies in the fourth quarter valued at approximately $442,000.

Neonc Technologies Company Profile

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.