Thomas Chen Buys 5,556 Shares of Neonc Technologies (NASDAQ:NTHI) Stock

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) CEO Thomas Chen purchased 5,556 shares of the company’s stock in a transaction that occurred on Friday, September 11th. The shares were bought at an average cost of $3.60 per share, with a total value of $20,001.60. Following the transaction, the chief executive officer directly owned 19,261 shares of the company’s stock, valued at $69,339.60. The trade was a 40.54% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Neonc Technologies Trading Down 9.7%

Shares of Neonc Technologies stock opened at $2.99 on Thursday. Neonc Technologies Holdings, Inc. has a twelve month low of $2.95 and a twelve month high of $12.99. The business’s fifty day moving average price is $4.01 and its 200 day moving average price is $5.22.

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

Analyst Ratings Changes

NTHI has been the topic of a number of research reports. Wall Street Zen downgraded shares of Neonc Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings raised shares of Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 31st. Finally, BTIG Research reissued a “buy” rating and issued a $15.00 price objective on shares of Neonc Technologies in a research report on Tuesday, September 8th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.00.

Institutional Trading of Neonc Technologies

Several large investors have recently bought and sold shares of NTHI. Bank of America Corp DE purchased a new stake in shares of Neonc Technologies during the second quarter valued at approximately $1,017,000. BlackRock Inc. purchased a new position in shares of Neonc Technologies in the second quarter valued at $815,000. Global Retirement Partners LLC purchased a new position in shares of Neonc Technologies in the second quarter valued at $126,000. Finally, Westmount Partners LLC grew its holdings in Neonc Technologies by 355.2% during the 2nd quarter. Westmount Partners LLC now owns 197,178 shares of the company’s stock valued at $893,000 after purchasing an additional 153,858 shares in the last quarter.

Trending Headlines about Neonc Technologies

Here are the key news stories impacting Neonc Technologies this week:

• Positive Sentiment: Executives, including CEOs Amir F. Heshmatpour and Thomas C. Chen and CFO Keithly Garnett, bought shares in multiple transactions. Heshmatpour purchased a combined 87,000 shares across recent trades, while Chen bought 10,798 shares. The purchases may signal management confidence that NTHI is undervalued. NeOnc executive stock purchase announcement
• Positive Sentiment: Positive Phase 2a data for NEO100 has shifted investor focus toward the program’s next regulatory milestone and the possibility of FDA engagement. Further clinical or regulatory progress could provide a catalyst for the shares. NEO100 data and FDA article
• Positive Sentiment: NeOnc’s targeted-delivery platform and additional CNS cancer candidates, including preclinical NEO212, provide potential long-term value if the company can advance its pipeline successfully. NeOnc platform and pipeline article
• Neutral Sentiment: Analyst views are mixed: three analysts rate NTHI Buy, one rates it Hold and one rates it Sell. The reported consensus is Hold, despite price targets well above the current trading range, reflecting the uncertainty of an early-stage biotechnology company.
• Negative Sentiment: NeOnc’s latest quarterly loss of $0.58 per share was substantially worse than the expected $0.12 loss, raising concerns about cash burn and the funding needed to reach commercialization.
• Negative Sentiment: A recent roughly $15 million financing may support NEO100 development, but potential equity issuance can dilute existing shareholders. The shares have also declined sharply, remain below their 50-day and 200-day moving averages, and are near their 12-month low.

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.