Amir Heshmatpour Purchases 9,000 Shares of Neonc Technologies (NASDAQ:NTHI) Stock

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) CEO Amir Heshmatpour acquired 9,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was bought at an average price of $5.54 per share, with a total value of $49,860.00. Following the completion of the acquisition, the chief executive officer directly owned 3,096,000 shares of the company’s stock, valued at $17,151,840. This trade represents a 0.29% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Neonc Technologies Stock Down 16.3%

Neonc Technologies stock opened at $4.63 on Thursday. Neonc Technologies Holdings, Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $12.99. The stock’s 50 day simple moving average is $4.14 and its two-hundred day simple moving average is $5.99.

Neonc Technologies (NASDAQ:NTHI) last announced its earnings results on Friday, August 14th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.46).

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NTHI shares. Weiss Ratings downgraded shares of Neonc Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, June 24th. Alliance Global Partners started coverage on shares of Neonc Technologies in a research report on Tuesday, May 19th. They set a “buy” rating and a $13.00 price target for the company. BTIG Research reissued a “buy” rating and set a $15.00 price objective on shares of Neonc Technologies in a research note on Tuesday, May 26th. Maxim Group initiated coverage on shares of Neonc Technologies in a report on Monday, May 18th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Neonc Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.00.

Hedge Funds Weigh In On Neonc Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE bought a new position in shares of Neonc Technologies during the second quarter valued at $1,017,000. BlackRock Inc. bought a new position in Neonc Technologies in the 2nd quarter worth about $815,000. Global Retirement Partners LLC purchased a new stake in Neonc Technologies during the 2nd quarter valued at about $126,000. Westmount Partners LLC grew 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 valued at $893,000 after purchasing an additional 153,858 shares during the last quarter. Finally, 683 Capital Management LLC bought a new stake in Neonc Technologies during the 4th quarter valued at about $442,000.

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.