Insider Buying: Neonc Technologies (NASDAQ:NTHI) CEO Buys $59,400.00 in Stock

Neonc Technologies Holdings, Inc. (NASDAQ:NTHI) CEO Amir Heshmatpour purchased 15,000 shares of the stock in a transaction on Monday, September 14th. The stock was acquired at an average cost of $3.96 per share, for a total transaction of $59,400.00. Following the acquisition, the chief executive officer owned 3,148,000 shares in the company, valued at approximately $12,466,080. This represents a 0.48% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Neonc Technologies Trading Up 14.0%

Shares of NTHI opened at $3.41 on Friday. Neonc Technologies Holdings, Inc. has a 12-month low of $2.95 and a 12-month high of $12.99. The stock has a 50-day moving average price of $3.98 and a 200-day moving average price of $5.18.

Neonc Technologies (NASDAQ:NTHI) last posted its quarterly earnings data 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).

Analyst Ratings Changes

NTHI has been the subject of a number of research analyst reports. Weiss Ratings downgraded shares of Neonc Technologies from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Wall Street Zen cut Neonc Technologies from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, BTIG Research restated a “buy” rating and set a $15.00 price target on shares of Neonc Technologies in a research report on Tuesday, September 8th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.00.

Institutional Investors Weigh In On Neonc Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in Neonc Technologies by 5.0% during the 1st quarter. Bank of America Corp DE now owns 235,396 shares of the company’s stock valued at $1,650,000 after buying an additional 11,108 shares during the period. Westmount Partners LLC increased its position in shares of Neonc Technologies by 355.2% in the second quarter. Westmount Partners LLC now owns 197,178 shares of the company’s stock valued at $893,000 after acquiring an additional 153,858 shares during the period. BlackRock Inc. purchased a new position in shares of Neonc Technologies in the second quarter valued at about $815,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Neonc Technologies in the second quarter valued at about $126,000.

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.