Neon Therapeutics (NASDAQ:NTGN) Stock Rating Upgraded by ValuEngine

Neon Therapeutics (NASDAQ:NTGN) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Thursday, ValuEngine reports.

A number of other analysts have also recently issued reports on NTGN. Zacks Investment Research cut Neon Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Robert W. Baird began coverage on Neon Therapeutics in a research report on Thursday, July 25th. They issued an “outperform” rating and a $15.00 price objective for the company. Morgan Stanley cut their price objective on Neon Therapeutics from $19.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, July 16th. HC Wainwright raised their price objective on Neon Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Mizuho set a $21.00 price objective on Neon Therapeutics and gave the company a “buy” rating in a research report on Monday, July 1st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $15.13.

Shares of NTGN traded down $0.12 during mid-day trading on Thursday, reaching $2.68. The company’s stock had a trading volume of 116,707 shares, compared to its average volume of 279,346. Neon Therapeutics has a 1-year low of $2.66 and a 1-year high of $13.00. The stock has a market cap of $81.03 million, a PE ratio of -0.48 and a beta of 1.63. The business’s 50-day moving average price is $4.16. The company has a current ratio of 7.30, a quick ratio of 7.30 and a debt-to-equity ratio of 0.09.

Neon Therapeutics (NASDAQ:NTGN) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.73) by ($0.03). As a group, research analysts predict that Neon Therapeutics will post -2.61 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in Neon Therapeutics by 17.6% during the 4th quarter. Bank of New York Mellon Corp now owns 19,427 shares of the company’s stock worth $98,000 after purchasing an additional 2,905 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Neon Therapeutics by 100.0% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,000 shares of the company’s stock worth $65,000 after purchasing an additional 5,000 shares during the last quarter. Bank of America Corp DE lifted its holdings in Neon Therapeutics by 42.7% during the 4th 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 during the last quarter. Marshall Wace North America L.P. acquired a new stake in Neon Therapeutics during the 1st quarter worth approximately $49,000. Finally, Rhumbline Advisers acquired a new stake in Neon Therapeutics during the 1st quarter worth approximately $78,000. 69.53% of the stock is owned by institutional investors and hedge funds.

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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