Neonc Technologies (NASDAQ:NTHI) Stock Price Down 3.8% – Here’s Why

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI)’s stock price dropped 3.8% on Monday . The stock traded as low as $4.29 and last traded at $4.32. Approximately 69,061 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 71,995 shares. The stock had previously closed at $4.49.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NTHI. Maxim Group assumed coverage on shares of Neonc Technologies in a research report on Monday, May 18th. They set a “buy” rating and a $20.00 target price for the company. Alliance Global Partners initiated coverage on shares of Neonc Technologies in a research report on Tuesday, May 19th. They issued a “buy” rating and a $13.00 price target on the stock. Weiss Ratings cut shares of Neonc Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 24th. Finally, BTIG Research reiterated a “buy” rating and set a $15.00 price target on shares of Neonc Technologies in a research note on Tuesday, May 26th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $16.00.

Neonc Technologies Trading Down 3.8%

The company has a fifty day simple moving average of $4.88 and a 200-day simple moving average of $6.97.

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

Insider Activity

In other news, President Amir F. Heshmatpour bought 10,000 shares of Neonc Technologies stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average cost of $4.16 per share, with a total value of $41,600.00. Following the acquisition, the president owned 3,072,000 shares of the company’s stock, valued at $12,779,520. The trade was a 0.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders purchased 30,500 shares of company stock worth $138,240.

Hedge Funds Weigh In On Neonc Technologies

Large investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its holdings in Neonc Technologies by 5,314.8% during the fourth quarter. Barclays PLC now owns 9,151 shares of the company’s stock valued at $76,000 after purchasing an additional 8,982 shares in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Neonc Technologies in the fourth quarter worth $124,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Neonc Technologies in the fourth quarter worth $126,000. Royal Bank of Canada bought a new stake in shares of Neonc Technologies during the 1st quarter valued at $247,000. Finally, State Street Corp raised its position in shares of Neonc Technologies by 9.9% during the 4th quarter. State Street Corp now owns 43,170 shares of the company’s stock valued at $357,000 after purchasing an additional 3,900 shares during the period.

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.