Neonc Technologies (NASDAQ:NTHI) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Neonc Technologies (NASDAQ:NTHI) from a strong sell rating to a sell rating in a research report sent to investors on Sunday,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. BTIG Research reissued a “buy” rating and set a $15.00 target price on shares of Neonc Technologies in a report on Tuesday, September 8th. Weiss Ratings raised shares of Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, October 6th. Roth Capital began coverage on shares of Neonc Technologies in a research note on Thursday, September 24th. They issued a “buy” rating on the stock. Finally, Zacks Research downgraded shares of Neonc Technologies from a “hold” rating to a “strong sell” rating in a research note on Wednesday, October 7th. Four analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, Neonc Technologies has an average rating of “Hold” and an average target price of $16.00.

Neonc Technologies Stock Performance

Shares of NASDAQ NTHI opened at $2.70 on Friday. Neonc Technologies has a 1-year low of $2.50 and a 1-year high of $12.00. The business’s 50 day moving average is $3.75 and its 200-day moving average is $4.36.

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

Insider Buying and Selling

In other Neonc Technologies news, CEO Thomas Chen purchased 12,757 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was bought at an average cost of $5.49 per share, for a total transaction of $70,035.93. Following the completion of the transaction, the chief executive officer owned 13,705 shares in the company, valued at approximately $75,240.45. This represents a 1,345.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Amir Heshmatpour purchased 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was bought at an average price of $3.30 per share, with a total value of $115,500.00. Following the completion of the purchase, the chief executive officer owned 3,183,000 shares of the company’s stock, valued at $10,503,900. This trade represents a 1.11% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 134,812 shares of company stock valued at $530,149.

Hedge Funds Weigh In On Neonc Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its position in shares of Neonc Technologies by 5.0% during the 1st quarter. Bank of America Corp DE now owns 235,396 shares of the company’s stock valued at $1,650,000 after acquiring an additional 11,108 shares during the period. Westmount Partners LLC grew its holdings in shares of Neonc Technologies by 355.2% during the 2nd quarter. Westmount Partners LLC now owns 197,178 shares of the company’s stock worth $893,000 after purchasing an additional 153,858 shares in the last quarter. BlackRock Inc. bought a new position in shares of Neonc Technologies in the second quarter worth $815,000. Finally, Global Retirement Partners LLC bought a new position in shares of Neonc Technologies in the second quarter worth $126,000.

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.