Neonc Technologies’ (NTHI) “Buy” Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Neonc Technologies (NASDAQ:NTHI) in a report released on Tuesday morning,Benzinga reports. They currently have a $15.00 price objective on the stock.

Several other research analysts also recently issued reports on the company. Weiss Ratings upgraded Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 31st. 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. Wall Street Zen cut Neonc Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Alliance Global Partners started coverage on Neonc Technologies in a research report on Tuesday, May 19th. They set a “buy” rating and a $13.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $16.00.

Neonc Technologies Price Performance

Shares of NASDAQ NTHI opened at $3.66 on Tuesday. The company’s 50-day moving average price is $4.09 and its 200 day moving average price is $5.40. Neonc Technologies has a 52 week low of $3.01 and a 52 week high of $12.99.

Neonc Technologies (NASDAQ:NTHI) last announced its earnings results on Monday, August 10th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.46).

Insider Transactions at Neonc Technologies

In other news, CEO Thomas C. Chen purchased 12,757 shares of the stock in a transaction dated Tuesday, August 18th. The stock was acquired at an average cost of $5.49 per share, for a total transaction of $70,035.93. Following the completion of the acquisition, the chief executive officer directly owned 13,705 shares in the company, valued at $75,240.45. This represents a 1,345.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Amir F. Heshmatpour acquired 12,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $3.79 per share, with a total value of $45,480.00. Following the transaction, the chief executive officer owned 3,084,000 shares of the company’s stock, valued at approximately $11,688,360. The trade was a 0.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 36,757 shares of company stock worth $178,486.

Hedge Funds Weigh In On Neonc Technologies

Several institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC boosted its position in Neonc Technologies by 5,314.8% during the fourth quarter. Barclays PLC now owns 9,151 shares of the company’s stock worth $76,000 after acquiring an additional 8,982 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in Neonc Technologies in the 4th quarter valued at $124,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Neonc Technologies during the 4th quarter worth $126,000. Global Retirement Partners LLC purchased a new position in shares of Neonc Technologies during the 2nd quarter worth $126,000. Finally, Royal Bank of Canada purchased a new position in shares of Neonc Technologies during the 1st quarter worth $247,000.

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.