Short Interest in Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) Increases By 23.2%

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totaling 289,781 shares, an increase of 23.2% from the March 15th total of 235,277 shares. Based on an average daily volume of 32,581 shares, the days-to-cover ratio is presently 8.9 days.

Insider Transactions at Neonc Technologies

In related news, President Amir F. Heshmatpour acquired 20,000 shares of the stock in a transaction on Thursday, April 2nd. The stock was acquired at an average price of $6.09 per share, for a total transaction of $121,800.00. Following the completion of the purchase, the president owned 3,012,000 shares of the company’s stock, valued at $18,343,080. This represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders acquired a total of 50,200 shares of company stock worth $285,350 in the last three months.

Institutional Trading of Neonc Technologies

A number of institutional investors and hedge funds have recently modified their holdings of NTHI. Royal Bank of Canada bought a new stake in shares of Neonc Technologies in the 1st quarter worth $247,000. Bank of America Corp DE bought a new stake in shares of Neonc Technologies in the 2nd quarter worth $801,000. Global Retirement Partners LLC bought a new stake in shares of Neonc Technologies in the 3rd quarter worth $434,000. SLT Holdings LLC bought a new stake in shares of Neonc Technologies in the 3rd quarter worth $100,000. Finally, Foundations Investment Advisors LLC bought a new stake in shares of Neonc Technologies in the 3rd quarter worth $100,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neonc Technologies in a research note on Friday, March 27th. Zacks Research upgraded Neonc Technologies to a “hold” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce”.

Neonc Technologies Stock Down 2.7%

NASDAQ:NTHI traded down $0.14 during trading hours on Thursday, reaching $5.02. 38,376 shares of the company traded hands, compared to its average volume of 52,997. The business’s 50-day moving average price is $8.31 and its two-hundred day moving average price is $8.94. Neonc Technologies has a 1 year low of $3.20 and a 1 year high of $12.99.

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.