Neonc Technologies (NASDAQ:NTHI) Trading Down 0.9% – Should You Sell?

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI)’s stock price fell 0.9% during mid-day trading on Tuesday . The stock traded as low as $3.43 and last traded at $3.43. 57,533 shares were traded during trading, a decline of 19% from the average daily volume of 71,293 shares. The stock had previously closed at $3.46.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Weiss Ratings downgraded Neonc Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, June 24th. Alliance Global Partners initiated coverage on Neonc Technologies in a report on Tuesday, May 19th. They set a “buy” rating and a $13.00 price target for the company. Maxim Group started coverage on Neonc Technologies in a research note on Monday, May 18th. They issued a “buy” rating and a $20.00 price target for the company. Finally, BTIG Research restated a “buy” rating and issued a $15.00 price objective on shares of Neonc Technologies in a report on Tuesday, May 26th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Neonc Technologies Price Performance

The stock’s fifty day moving average is $4.23 and its 200-day moving average is $6.32.

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

Institutional Investors Weigh In On Neonc Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC grew 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 during the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Neonc Technologies during the 4th quarter worth $124,000. Global Retirement Partners LLC acquired a new position in Neonc Technologies in the 2nd quarter valued at $126,000. OMERS ADMINISTRATION Corp bought a new position in Neonc Technologies in the 4th quarter worth $126,000. Finally, Royal Bank of Canada bought a new stake in Neonc Technologies during the first quarter valued at about $247,000.

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.