Neon Therapeutics Inc (NASDAQ:NTGN) was the recipient of a large decrease in short interest during the month of November. As of November 29th, there was short interest totalling 894,400 shares, a decrease of 6.8% from the November 14th total of 959,600 shares. Based on an average daily trading volume, of 274,300 shares, the short-interest ratio is presently 3.3 days. Approximately 6.3% of the shares of the company are short sold.
In other news, insider Richard Gaynor sold 20,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $1.37, for a total transaction of $27,400.00. Following the transaction, the insider now owns 201,822 shares of the company’s stock, valued at approximately $276,496.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 38.93% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of NTGN. Marshall Wace North America L.P. purchased a new stake in Neon Therapeutics during the 1st quarter worth about $49,000. Bank of New York Mellon Corp increased its stake in Neon Therapeutics by 112.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 71,443 shares of the company’s stock worth $339,000 after acquiring an additional 37,755 shares during the last quarter. Northern Trust Corp increased its stake in Neon Therapeutics by 8.5% in the 2nd quarter. Northern Trust Corp now owns 166,467 shares of the company’s stock worth $789,000 after acquiring an additional 12,971 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Neon Therapeutics in the 2nd quarter worth about $149,000. Finally, BlackRock Inc. increased its stake in Neon Therapeutics by 11.6% in the 2nd quarter. BlackRock Inc. now owns 765,850 shares of the company’s stock worth $3,631,000 after acquiring an additional 79,729 shares during the last quarter. 58.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of NTGN opened at $1.14 on Friday. The stock’s 50-day simple moving average is $1.55 and its 200 day simple moving average is $2.88. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.59 and a quick ratio of 4.59. Neon Therapeutics has a 52-week low of $0.88 and a 52-week high of $7.51.
Neon Therapeutics (NASDAQ:NTGN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.04). Sell-side analysts anticipate that Neon Therapeutics will post -2.54 earnings per share for the current year.
A number of research analysts have recently commented on the company. Mizuho dropped their price target on Neon Therapeutics from $21.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, November 20th. Zacks Investment Research cut Neon Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, November 29th. HC Wainwright cut Neon Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, November 27th. Morgan Stanley cut Neon Therapeutics from an “overweight” rating to a “sell” rating in a report on Tuesday, November 26th. Finally, Bank of America cut Neon Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Neon Therapeutics has a consensus rating of “Hold” and an average target price of $10.58.
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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