Insider Buying: Neonc Technologies (NASDAQ:NTHI) CEO Purchases $135,790.00 in Stock

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) CEO Amir Heshmatpour purchased 37,000 shares of the business’s stock in a transaction on Friday, September 11th. The shares were bought at an average price of $3.67 per share, for a total transaction 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. This represents a 1.20% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Neonc Technologies Price Performance

Shares of NTHI stock opened at $2.99 on Thursday. Neonc Technologies Holdings, Inc. has a fifty-two week low of $2.95 and a fifty-two week high of $12.99. The stock’s 50-day simple moving average is $4.01 and its 200-day simple moving average is $5.22.

Neonc Technologies (NASDAQ:NTHI) last issued its 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).

Wall Street Analyst Weigh In

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

Key Neonc Technologies News

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.

Institutional Investors Weigh In On Neonc Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of NTHI. Westmount Partners LLC boosted 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 during the last quarter. BlackRock Inc. acquired a new stake in shares of Neonc Technologies during the 2nd quarter worth approximately $815,000. Bank of America Corp DE acquired a new stake in shares of Neonc Technologies during the 2nd quarter worth approximately $1,017,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Neonc Technologies during the 2nd quarter valued at approximately $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.