Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) Stock Has Average Target Price of $16.00

Shares of Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) have been given an average rating of “Hold” by the six ratings firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $16.00.

Several brokerages recently weighed in on NTHI. Zacks Research downgraded shares of Neonc Technologies from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 7th. Wall Street Zen upgraded shares of Neonc Technologies from a “strong sell” rating to a “sell” rating in a research note on Sunday, October 18th. Weiss Ratings lowered shares of Neonc Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 21st. Roth Capital initiated coverage on Neonc Technologies in a research report on Thursday, September 24th. They set a “buy” rating on the stock. Finally, BTIG Research restated a “buy” rating and issued a $15.00 target price on shares of Neonc Technologies in a research note on Tuesday, September 8th.

Insiders Place Their Bets

In other news, CEO Amir Heshmatpour bought 37,000 shares of the stock in a transaction dated Friday, September 11th. The shares were acquired at an average cost of $3.67 per share, with a total value of $135,790.00. Following the purchase, the chief executive officer directly owned 3,133,000 shares in the company, valued at $11,498,110. The trade was a 1.20% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas Chen purchased 12,757 shares of Neonc Technologies stock in a transaction that occurred on Tuesday, August 18th. The stock was acquired 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 in the company, valued at $75,240.45. This trade represents a 1,345.68% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 134,812 shares of company stock valued at $530,149 in the last ninety days.

Hedge Funds Weigh In On Neonc Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its position in shares of Neonc Technologies by 5.0% during the first quarter. Bank of America Corp DE now owns 235,396 shares of the company’s stock worth $1,650,000 after purchasing an additional 11,108 shares in the last quarter. Westmount Partners LLC lifted its holdings in Neonc Technologies by 355.2% in 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. BlackRock Inc. acquired a new stake in Neonc Technologies during the 2nd quarter worth $815,000. Finally, Global Retirement Partners LLC acquired a new stake in Neonc Technologies during the 2nd quarter worth $126,000.

Neonc Technologies Price Performance

Shares of NTHI opened at $3.17 on Thursday. The company’s fifty day moving average price is $3.38 and its 200-day moving average price is $5.43. Neonc Technologies has a 1-year low of $2.50 and a 1-year high of $12.00.

Neonc Technologies (NASDAQ:NTHI) last posted 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).

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.