Neonc Technologies (NASDAQ:NTHI) Releases Earnings Results, Misses Expectations By $0.16 EPS

Neonc Technologies (NASDAQ:NTHI) announced its quarterly earnings data on Monday. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.16), Zacks reports.

Neonc Technologies Trading Up 2.6%

Shares of NASDAQ:NTHI opened at $5.48 on Wednesday. Neonc Technologies has a 12 month low of $3.20 and a 12 month high of $12.99. The firm’s 50-day moving average is $6.26 and its 200 day moving average is $8.13.

Insider Transactions at Neonc Technologies

In related news, President Amir F. Heshmatpour acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was bought at an average price of $6.09 per share, for a total transaction of $121,800.00. Following the acquisition, the president directly owned 3,012,000 shares of the company’s stock, valued at $18,343,080. This represents a 0.67% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders acquired 80,700 shares of company stock worth $423,590.

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 increased its holdings in 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 purchasing an additional 8,982 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of Neonc Technologies in the 4th quarter worth $124,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Neonc Technologies in the 4th quarter worth $126,000. Royal Bank of Canada bought a new position in Neonc Technologies during the 1st quarter worth about $247,000. Finally, State Street Corp grew its holdings in Neonc Technologies by 9.9% during the 4th quarter. State Street Corp now owns 43,170 shares of the company’s stock worth $357,000 after acquiring an additional 3,900 shares in the last quarter.

Wall Street Analysts Forecast Growth

NTHI has been the subject of a number of analyst reports. Alliance Global Partners initiated coverage on shares of Neonc Technologies in a research note on Tuesday. They issued a “buy” rating and a $13.00 price objective for the company. Maxim Group assumed coverage on shares of Neonc Technologies in a research note on Monday. They issued a “buy” rating and a $20.00 price objective for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Neonc Technologies in a research note on Friday, March 27th. Finally, BTIG Research began coverage on Neonc Technologies in a research note on Friday, April 24th. They issued a “buy” rating and a $15.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Neonc Technologies presently has an average rating of “Hold” and an average target price of $16.00.

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.