Neonc Technologies (NASDAQ:NTHI) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Neonc Technologies (NASDAQ:NTHI) to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Neonc Technologies in a research report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Neonc Technologies Stock Down 6.9%

NTHI opened at $8.70 on Wednesday. The firm’s fifty day simple moving average is $8.76 and its two-hundred day simple moving average is $8.08. Neonc Technologies has a 52-week low of $3.20 and a 52-week high of $25.00.

Neonc Technologies (NASDAQ:NTHI) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.45) earnings per share for the quarter.

Insider Activity

In related news, President Amir F. Heshmatpour purchased 24,000 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were purchased at an average price of $6.07 per share, for a total transaction of $145,680.00. Following the transaction, the president directly owned 2,986,000 shares of the company’s stock, valued at approximately $18,125,020. The trade was a 0.81% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 31,100 shares of company stock worth $192,099 over the last 90 days.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. HighPoint Advisor Group LLC raised its stake in shares of Neonc Technologies by 424.8% during the third quarter. HighPoint Advisor Group LLC now owns 950,232 shares of the company’s stock worth $8,628,000 after purchasing an additional 769,163 shares during the last quarter. Bank of America Corp DE increased its stake in Neonc Technologies by 1.0% in the 3rd quarter. Bank of America Corp DE now owns 226,486 shares of the company’s stock valued at $2,056,000 after buying an additional 2,207 shares during the period. Vanguard Group Inc. purchased a new position in Neonc Technologies during the 3rd quarter worth $1,279,000. Global Retirement Partners LLC acquired a new stake in shares of Neonc Technologies in the 3rd quarter worth $434,000. Finally, Westmount Partners LLC lifted its stake in shares of Neonc Technologies by 7.7% in 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 during the period.

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.