Brokerages Set Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) PT at $16.00

Shares of Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) have received an average recommendation of “Hold” from the five brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $16.00.

A number of research analysts recently commented on the company. Maxim Group initiated coverage on Neonc Technologies in a report on Monday, May 18th. They issued a “buy” rating and a $20.00 price objective on the stock. Alliance Global Partners started coverage on Neonc Technologies in a research report 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 note on Wednesday, June 24th. BTIG Research reiterated a “buy” rating and set a $15.00 price target on shares of Neonc Technologies in a report on Tuesday, May 26th. Finally, Wall Street Zen downgraded Neonc Technologies from a “hold” rating to a “sell” rating in a research report on Saturday.

Insiders Place Their Bets

In related news, CEO Amir F. Heshmatpour purchased 12,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $3.79 per share, for a total transaction of $45,480.00. Following the completion of the transaction, the chief executive officer directly owned 3,084,000 shares in the company, valued at approximately $11,688,360. The trade was a 0.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Hedge Funds Weigh In On Neonc Technologies

Large investors have recently made changes to their positions in the stock. Barclays PLC raised its position in Neonc Technologies by 5,314.8% in the fourth quarter. Barclays PLC now owns 9,151 shares of the company’s stock valued at $76,000 after purchasing an additional 8,982 shares during the period. Goldman Sachs Group Inc. purchased a new position in shares of Neonc Technologies during the fourth quarter worth $124,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Neonc Technologies in the fourth quarter valued at $126,000. Royal Bank of Canada purchased a new stake in shares of Neonc Technologies in the 1st quarter valued at $247,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Neonc Technologies in the 2nd quarter valued at $126,000.

Neonc Technologies Price Performance

Shares of NTHI opened at $4.91 on Friday. Neonc Technologies has a 12-month low of $3.01 and a 12-month high of $12.99. The firm has a 50-day moving average price of $4.11 and a 200 day moving average price of $6.05.

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

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.