Short Interest in Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) Rises By 17.8%

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) was the recipient of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 214,975 shares, an increase of 17.8% from the February 12th total of 182,496 shares. Based on an average daily volume of 35,157 shares, the days-to-cover ratio is presently 6.1 days. Based on an average daily volume of 35,157 shares, the days-to-cover ratio is presently 6.1 days.

Analysts Set New Price Targets

Several research analysts recently commented on NTHI shares. Zacks Research raised shares of Neonc Technologies to a “hold” rating in a research note 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 equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its position in shares of Neonc Technologies by 5,314.8% during the fourth quarter. Barclays PLC now owns 9,151 shares of the company’s stock valued at $76,000 after buying an additional 8,982 shares during the period. Foundations Investment Advisors LLC bought a new stake in Neonc Technologies during the 3rd quarter valued at approximately $100,000. SLT Holdings LLC purchased a new position in shares of Neonc Technologies during the 3rd quarter worth approximately $100,000. Goldman Sachs Group Inc. bought a new position in shares of Neonc Technologies in the 4th quarter worth approximately $124,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Neonc Technologies during the fourth quarter valued at $126,000.

Neonc Technologies Trading Down 1.2%

NASDAQ NTHI traded down $0.11 on Tuesday, hitting $8.86. The company’s stock had a trading volume of 17,026 shares, compared to its average volume of 56,277. Neonc Technologies has a 52-week low of $3.20 and a 52-week high of $25.00. The company’s 50-day simple moving average is $9.44 and its 200 day simple moving average is $9.41.

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.