Neon Therapeutics (NASDAQ:NTGN) Downgraded to “Neutral” at Robert W. Baird
Robert W. Baird lowered shares of Neon Therapeutics (NASDAQ:NTGN) from an outperform rating to a neutral rating in a report issued on Thursday morning, The Fly reports.
A number of other brokerages have also commented on NTGN. Zacks Investment Research raised shares of Neon Therapeutics from a hold rating to a buy rating and set a $1.25 price target on the stock in a report on Saturday, January 4th. HC Wainwright reaffirmed a hold rating on shares of Neon Therapeutics in a research note on Thursday, December 19th. Bank of America cut shares of Neon Therapeutics from a buy rating to a neutral rating in a research note on Wednesday, November 13th. Mizuho cut their price objective on shares of Neon Therapeutics from $21.00 to $7.00 and set a buy rating for the company in a research note on Wednesday, November 20th. Finally, Morgan Stanley cut shares of Neon Therapeutics from an overweight rating to a sell rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $10.54.
Shares of NASDAQ:NTGN traded down $0.01 during trading on Thursday, reaching $1.69. The company had a trading volume of 957,767 shares, compared to its average volume of 683,886. The company has a fifty day moving average of $1.17 and a two-hundred day moving average of $2.24. The stock has a market capitalization of $33.72 million, a P/E ratio of -0.31 and a beta of 1.35. Neon Therapeutics has a 12 month low of $0.88 and a 12 month high of $7.51. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.15.
In other news, insider Richard Gaynor sold 20,000 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $1.37, for a total value of $27,400.00. Following the completion of the sale, the insider now owns 201,822 shares of the company’s stock, valued at approximately $276,496.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 38.93% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Marshall Wace North America L.P. purchased a new stake in shares of Neon Therapeutics in the 1st quarter valued at $49,000. Tower Research Capital LLC TRC purchased a new stake in Neon Therapeutics during the 3rd quarter valued at $25,000. Squarepoint Ops LLC purchased a new stake in Neon Therapeutics during the 3rd quarter valued at $35,000. Millennium Management LLC purchased a new stake in Neon Therapeutics during the 3rd quarter valued at $45,000. Finally, Morgan Stanley boosted its position in Neon Therapeutics by 10.8% during the 2nd quarter. Morgan Stanley now owns 40,522 shares of the company’s stock valued at $192,000 after buying an additional 3,939 shares during the period. 58.19% of the stock is owned by institutional investors.
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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