Zacks Investment Research Lowers Neon Therapeutics (NASDAQ:NTGN) to Hold

Zacks Investment Research cut shares of Neon Therapeutics (NASDAQ:NTGN) from a buy rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “Neon Therapeutics Inc. is a clinical-stage immuno-oncology company. It engaged in developing neoantigen-based therapeutics for the treatment of cancer by directing the immune system. The company’s product pipeline consists of NEO-PV-01, NEO-PTC-01 and NEO-SV-01 which are in clinical stage. Neon Therapeutics Inc. is based in Cambridge, United States. “

Other analysts have also issued reports about the company. Berenberg Bank decreased their price target on Lucara Diamond from C$1.60 to C$1.50 in a research note on Wednesday, March 27th. HC Wainwright assumed coverage on Neon Therapeutics in a research note on Thursday, May 30th. They issued a buy rating and a $10.00 price target on the stock. Finally, Mizuho set a $21.00 price target on Neon Therapeutics and gave the stock a buy rating in a research note on Monday, July 1st. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $16.00.

NASDAQ:NTGN traded down $0.40 during mid-day trading on Tuesday, reaching $3.73. The company’s stock had a trading volume of 6,821 shares, compared to its average volume of 193,300. The stock’s fifty day moving average price is $4.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.30 and a current ratio of 7.30. Neon Therapeutics has a twelve month low of $4.08 and a twelve month high of $13.00. The company has a market cap of $122.39 million and a PE ratio of -0.66.

Neon Therapeutics (NASDAQ:NTGN) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.73) by ($0.03). On average, equities analysts predict that Neon Therapeutics will post -2.69 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTGN. Marshall Wace North America L.P. purchased a new position in Neon Therapeutics in the first quarter worth $49,000. Acadian Asset Management LLC purchased a new position in Neon Therapeutics in the first quarter worth $268,000. Rhumbline Advisers purchased a new position in Neon Therapeutics in the first quarter worth $78,000. Oppenheimer & Co. Inc. purchased a new position in Neon Therapeutics in the first quarter worth $194,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Neon Therapeutics by 100.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,000 shares of the company’s stock worth $65,000 after acquiring an additional 5,000 shares in the last quarter. 69.57% of the stock is currently 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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