Neonc Technologies (NASDAQ:NTHI) Rating Lowered to “Strong Sell” at Wall Street Zen

Neonc Technologies (NASDAQ:NTHI) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued on Saturday, Wall Street Zen reports.

NTHI has been the topic of a number of other research reports. BTIG Research restated a “buy” rating and set a $15.00 price objective on shares of Neonc Technologies in a research report on Tuesday, September 8th. Roth Capital started coverage on Neonc Technologies in a report on Thursday, September 24th. They issued a “buy” rating for the company. Weiss Ratings raised Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 6th. Finally, Zacks Research downgraded Neonc Technologies from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 7th. Four analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Neonc Technologies has an average rating of “Hold” and an average price target of $16.00.

Neonc Technologies Price Performance

NASDAQ NTHI opened at $2.78 on Friday. The firm’s fifty day moving average price is $3.83 and its two-hundred day moving average price is $4.52. Neonc Technologies has a fifty-two week low of $2.50 and a fifty-two week high of $12.09.

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

Insider Activity at Neonc Technologies

In other Neonc Technologies news, CEO Thomas C. Chen bought 12,757 shares of Neonc Technologies stock in a transaction on Tuesday, August 18th. The shares were purchased at an average cost of $5.49 per share, with a total value of $70,035.93. Following the acquisition, the chief executive officer directly owned 13,705 shares of the company’s stock, valued at $75,240.45. The trade was a 1,345.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amir F. Heshmatpour purchased 35,000 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of $3.30 per share, with a total value of $115,500.00. Following the completion of the transaction, the chief executive officer owned 3,183,000 shares in the company, valued at approximately $10,503,900. This trade represents a 1.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 134,812 shares of company stock worth $530,149.

Hedge Funds Weigh In On Neonc Technologies

A number of hedge funds have recently modified their holdings of NTHI. Bank of America Corp DE bought a new stake in shares of Neonc Technologies in the second quarter worth $1,017,000. BlackRock Inc. acquired a new stake in Neonc Technologies in the second quarter valued at $815,000. Westmount Partners LLC raised its position in 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 during the last quarter. Finally, Global Retirement Partners LLC bought a new position in Neonc Technologies during the 2nd 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.