Zacks Research Upgrades Neonc Technologies (NASDAQ:NTHI) to Hold

Neonc Technologies (NASDAQ:NTHI) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Neonc Technologies in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

Neonc Technologies Stock Down 6.9%

Shares of NASDAQ:NTHI opened at $8.70 on Wednesday. Neonc Technologies has a 1-year low of $3.20 and a 1-year high of $25.00. The firm’s 50 day simple moving average is $8.76 and its two-hundred day simple moving average is $8.08.

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

Insider Activity at Neonc Technologies

In other news, President Amir F. Heshmatpour acquired 24,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was purchased at an average cost of $6.07 per share, for a total transaction of $145,680.00. Following the completion of the acquisition, the president directly owned 2,986,000 shares of the company’s stock, valued at $18,125,020. The trade was a 0.81% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 31,100 shares of company stock worth $192,099 in the last 90 days.

Institutional Trading of Neonc Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada purchased a new position in Neonc Technologies in the first quarter valued at about $247,000. LVW Advisors LLC purchased a new position in shares of Neonc Technologies during the 2nd quarter valued at about $108,000. HCR Wealth Advisors purchased a new stake in shares of Neonc Technologies in the second quarter worth about $54,000. Bank of America Corp DE acquired a new stake in Neonc Technologies during the second quarter worth about $801,000. Finally, Global Retirement Partners LLC purchased a new position in Neonc Technologies during the third quarter valued at approximately $434,000.

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.