Neonc Technologies (NASDAQ:NTHI) Stock Price Up 14.9% – Time to Buy?

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) shares traded up 14.9% during mid-day trading on Tuesday . The stock traded as high as $5.66 and last traded at $5.18. Approximately 220,617 shares were traded during mid-day trading, an increase of 217% from the average daily volume of 69,599 shares. The stock had previously closed at $4.51.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Weiss Ratings raised Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. Maxim Group started coverage on shares of Neonc Technologies in a research note on Monday, May 18th. They issued a “buy” rating and a $20.00 price target for the company. Alliance Global Partners started coverage on shares of Neonc Technologies in a report on Tuesday, May 19th. They set a “buy” rating and a $13.00 price target for the company. Finally, BTIG Research reissued a “buy” rating and issued a $15.00 price objective on shares of Neonc Technologies in a research report on Tuesday, May 26th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.00.

Neonc Technologies Trading Up 9.6%

The stock has a fifty day simple moving average of $5.02 and a 200-day simple moving average of $7.47.

Neonc Technologies (NASDAQ:NTHI) last released its quarterly earnings data on Friday, May 15th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.16).

Insider Transactions at Neonc Technologies

In other Neonc Technologies news, President Amir F. Heshmatpour purchased 20,000 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was purchased at an average cost of $6.09 per share, with a total value of $121,800.00. Following the completion of the acquisition, the president directly owned 3,012,000 shares of the company’s stock, valued at $18,343,080. This trade represents a 0.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders purchased 80,700 shares of company stock valued at $423,590 over the last three months.

Institutional Trading of Neonc Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in shares of Neonc Technologies by 5,314.8% in the 4th quarter. Barclays PLC now owns 9,151 shares of the company’s stock valued at $76,000 after buying an additional 8,982 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in Neonc Technologies during the 4th quarter worth $124,000. OMERS ADMINISTRATION Corp acquired a new stake in Neonc Technologies during the 4th quarter worth $126,000. Royal Bank of Canada purchased a new stake in Neonc Technologies in the first quarter valued at $247,000. Finally, State Street Corp lifted its position in Neonc Technologies by 9.9% in the fourth quarter. State Street Corp now owns 43,170 shares of the company’s stock valued at $357,000 after acquiring an additional 3,900 shares during the last quarter.

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.