Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) Short Interest Up 25.6% in April

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 363,971 shares, an increase of 25.6% from the March 31st total of 289,781 shares. Based on an average trading volume of 57,468 shares, the days-to-cover ratio is currently 6.3 days.

Analyst Ratings Changes

NTHI has been the subject of a number of recent research reports. Zacks Research upgraded Neonc Technologies to a “hold” rating in a research note on Wednesday, January 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Neonc Technologies in a research note on Friday, March 27th. Finally, BTIG Research initiated coverage on Neonc Technologies in a research note on Friday, April 24th. They set a “buy” rating and a $15.00 price objective for the company. One research analyst has 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, the stock currently has an average rating of “Hold” and an average target price of $15.00.

Insider Activity

In related news, President Amir F. Heshmatpour acquired 20,000 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was bought at an average cost of $6.09 per share, for a total transaction of $121,800.00. Following the purchase, the president owned 3,012,000 shares in the company, valued at $18,343,080. The trade was a 0.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 70,700 shares of company stock worth $381,990.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of Neonc Technologies by 5,314.8% during the 4th quarter. Barclays PLC now owns 9,151 shares of the company’s stock worth $76,000 after acquiring an additional 8,982 shares in the last quarter. Foundations Investment Advisors LLC purchased a new stake in Neonc Technologies during the 3rd quarter valued at $100,000. SLT Holdings LLC purchased a new stake in Neonc Technologies during the 3rd quarter valued at $100,000. Goldman Sachs Group Inc. purchased a new stake in Neonc Technologies during the 4th quarter valued at $124,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Neonc Technologies during the 4th quarter valued at $126,000.

Neonc Technologies Trading Down 8.1%

NTHI stock traded down $0.36 during midday trading on Friday, hitting $4.06. The company’s stock had a trading volume of 60,257 shares, compared to its average volume of 56,043. Neonc Technologies has a 12 month low of $3.20 and a 12 month high of $12.99. The company has a 50 day moving average of $7.20 and a two-hundred day moving average of $8.47.

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.