Neonc Technologies (NASDAQ:NTHI) Shares Up 14.9% – Should You Buy?

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NTHI shares. Maxim Group started coverage on shares of Neonc Technologies in a research report on Monday, May 18th. They set a “buy” rating and a $20.00 price target for the company. Weiss Ratings upgraded shares of Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 22nd. 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. Finally, BTIG Research reiterated a “buy” rating and set a $15.00 price target 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 company’s stock. According to data from MarketBeat, Neonc Technologies presently has a consensus rating of “Hold” and an average target price of $16.00.

Neonc Technologies Stock Up 14.9%

The business’s fifty day moving average is $5.05 and its two-hundred day moving average is $7.53.

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

Insider Buying and Selling at Neonc Technologies

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. HighPoint Advisor Group LLC grew its holdings in shares of Neonc Technologies by 20.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,144,640 shares of the company’s stock valued at $9,466,000 after purchasing an additional 194,408 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Neonc Technologies by 5.0% in the first quarter. Bank of America Corp DE now owns 235,396 shares of the company’s stock valued at $1,650,000 after purchasing an additional 11,108 shares in the last quarter. Vanguard Group Inc. acquired a new position in shares of Neonc Technologies in the third quarter valued at approximately $1,279,000. 683 Capital Management LLC acquired a new position in shares of Neonc Technologies in the fourth quarter valued at approximately $442,000. Finally, Westmount Partners LLC grew its holdings in Neonc Technologies by 7.7% during the 4th quarter. Westmount Partners LLC now owns 43,320 shares of the company’s stock worth $358,000 after acquiring an additional 3,112 shares in the last quarter.

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.