Neonc Technologies (NASDAQ:NTHI) Posts Earnings Results, Misses Estimates By $0.46 EPS

Neonc Technologies (NASDAQ:NTHI) issued its quarterly earnings results on Monday. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.46), Zacks reports.

Neonc Technologies Price Performance

Neonc Technologies stock opened at $3.38 on Monday. The firm has a fifty day simple moving average of $4.18 and a two-hundred day simple moving average of $6.25. Neonc Technologies has a twelve month low of $3.01 and a twelve month high of $12.99.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of America Corp DE increased its stake in Neonc Technologies by 1.0% in the 3rd quarter. Bank of America Corp DE now owns 226,486 shares of the company’s stock worth $2,056,000 after purchasing an additional 2,207 shares during the period. State Street Corp boosted its stake in shares of Neonc Technologies by 9.9% during the fourth quarter. State Street Corp now owns 43,170 shares of the company’s stock valued at $357,000 after purchasing an additional 3,900 shares during the period. Barclays PLC boosted its stake in shares of Neonc Technologies by 5,314.8% during the fourth quarter. Barclays PLC now owns 9,151 shares of the company’s stock valued at $76,000 after purchasing an additional 8,982 shares during the period. Goldman Sachs Group Inc. bought a new position in shares of Neonc Technologies in the fourth quarter worth approximately $124,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Neonc Technologies in the fourth quarter worth approximately $126,000.

Analysts Set New Price Targets

Several brokerages have commented on NTHI. BTIG Research reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Neonc Technologies in a research report on Tuesday, May 26th. Alliance Global Partners initiated coverage on shares of Neonc Technologies in a research report on Tuesday, May 19th. They set a “buy” rating and a $13.00 target price for the company. Weiss Ratings lowered shares of Neonc Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 24th. Finally, Maxim Group started coverage on shares of Neonc Technologies in a report on Monday, May 18th. They issued a “buy” rating and a $20.00 price target on the stock. Three 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $16.00.

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.