Neon Therapeutics Inc (NASDAQ:NTGN) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 690,200 shares, an increase of 14.9% from the July 31st total of 600,600 shares. Based on an average daily trading volume, of 188,300 shares, the days-to-cover ratio is currently 3.7 days. Currently, 4.8% of the shares of the company are sold short.
A number of brokerages recently commented on NTGN. ValuEngine upgraded Neon Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Mizuho set a $21.00 price objective on Neon Therapeutics and gave the stock a “buy” rating in a research note on Monday, July 1st. HC Wainwright upped their price objective on Neon Therapeutics from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley lowered their price objective on Neon Therapeutics from $19.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Finally, Robert W. Baird began coverage on Neon Therapeutics in a research note on Thursday, July 25th. They set an “outperform” rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.43.
Large investors have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. bought a new position in shares of Neon Therapeutics in the first quarter worth $49,000. Rhumbline Advisers bought a new position in shares of Neon Therapeutics in the first quarter worth $78,000. Bank of America Corp DE grew its stake in shares of Neon Therapeutics by 42.7% in the fourth quarter. Bank of America Corp DE now owns 21,712 shares of the company’s stock worth $109,000 after purchasing an additional 6,493 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Neon Therapeutics in the second quarter worth $149,000. Finally, Morgan Stanley grew its stake in shares of Neon Therapeutics by 10.8% in the second quarter. Morgan Stanley now owns 40,522 shares of the company’s stock worth $192,000 after purchasing an additional 3,939 shares in the last quarter. 67.14% of the stock is owned by institutional investors.
NTGN traded down $0.08 during trading on Friday, reaching $2.62. 249,588 shares of the company were exchanged, compared to its average volume of 1,189,684. The firm has a 50 day moving average of $2.76 and a 200 day moving average of $4.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.13 and a quick ratio of 6.13. Neon Therapeutics has a 52 week low of $2.23 and a 52 week high of $12.69.
Neon Therapeutics (NASDAQ:NTGN) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.78) by ($0.01). On average, research analysts forecast that Neon Therapeutics will post -2.55 earnings per share for the current year.
Neon Therapeutics Company Profile
Neon Therapeutics, Inc, a clinical-stage immuno-oncology company, engages in developing neoantigen-targeted therapies for cancers in the United States. It is developing NEO-PV-01, a neoantigen vaccine that is in Phase Ib clinical trial in combination with nivolumab for the treatment of metastatic melanoma, non-small cell lung cancer, and bladder cancer; NEO-PTC-01, a neoantigen T cell therapy for the treatment of solid tumors; and NEO-SV-01, a neoantigen vaccine for the treatment of estrogen-receptor-positive breast cancer.
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