Thomas Chen Acquires 5,242 Shares of Neonc Technologies (NASDAQ:NTHI) Stock

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) CEO Thomas Chen bought 5,242 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average cost of $3.81 per share, for a total transaction of $19,972.02. Following the transaction, the chief executive officer owned 24,503 shares in the company, valued at $93,356.43. The trade was a 27.22% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Neonc Technologies Stock Performance

NASDAQ NTHI opened at $2.99 on Thursday. Neonc Technologies Holdings, Inc. has a 52 week low of $2.95 and a 52 week high of $12.99. The stock’s 50 day moving average price is $4.01 and its two-hundred day moving average price is $5.22.

Neonc Technologies (NASDAQ:NTHI) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.46).

Key Stories Impacting Neonc Technologies

Here are the key news stories impacting Neonc Technologies this week:

• Positive Sentiment: Executives, including CEOs Amir F. Heshmatpour and Thomas C. Chen and CFO Keithly Garnett, bought shares in multiple transactions. Heshmatpour purchased a combined 87,000 shares across recent trades, while Chen bought 10,798 shares. The purchases may signal management confidence that NTHI is undervalued. NeOnc executive stock purchase announcement
• Positive Sentiment: Positive Phase 2a data for NEO100 has shifted investor focus toward the program’s next regulatory milestone and the possibility of FDA engagement. Further clinical or regulatory progress could provide a catalyst for the shares. NEO100 data and FDA article
• Positive Sentiment: NeOnc’s targeted-delivery platform and additional CNS cancer candidates, including preclinical NEO212, provide potential long-term value if the company can advance its pipeline successfully. NeOnc platform and pipeline article
• Neutral Sentiment: Analyst views are mixed: three analysts rate NTHI Buy, one rates it Hold and one rates it Sell. The reported consensus is Hold, despite price targets well above the current trading range, reflecting the uncertainty of an early-stage biotechnology company.
• Negative Sentiment: NeOnc’s latest quarterly loss of $0.58 per share was substantially worse than the expected $0.12 loss, raising concerns about cash burn and the funding needed to reach commercialization.
• Negative Sentiment: A recent roughly $15 million financing may support NEO100 development, but potential equity issuance can dilute existing shareholders. The shares have also declined sharply, remain below their 50-day and 200-day moving averages, and are near their 12-month low.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NTHI shares. Weiss Ratings raised shares of Neonc Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, August 31st. BTIG Research reaffirmed a “buy” rating and issued a $15.00 target price on shares of Neonc Technologies in a research report on Tuesday, September 8th. Finally, Wall Street Zen lowered Neonc Technologies from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $16.00.

Hedge Funds Weigh In On Neonc Technologies

A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE bought a new stake in Neonc Technologies during the second quarter worth $1,017,000. BlackRock Inc. bought a new position in shares of Neonc Technologies in the 2nd quarter valued at about $815,000. Global Retirement Partners LLC acquired a new position in shares of Neonc Technologies during the 2nd quarter worth about $126,000. Finally, Westmount Partners LLC increased its stake in shares of Neonc Technologies by 355.2% during the 2nd quarter. Westmount Partners LLC now owns 197,178 shares of the company’s stock worth $893,000 after purchasing an additional 153,858 shares during 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.