Brokerages Set Neon Therapeutics Inc (NASDAQ:NTGN) Target Price at $8.06
Shares of Neon Therapeutics Inc (NASDAQ:NTGN) have earned an average recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $8.06.
NTGN has been the subject of several analyst reports. Robert W. Baird cut shares of Neon Therapeutics from an “outperform” rating to a “neutral” rating in a research report on Thursday, January 16th. Zacks Investment Research cut shares of Neon Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. HC Wainwright reiterated a “neutral” rating on shares of Neon Therapeutics in a research report on Tuesday, January 21st. Mizuho lowered their price target on shares of Neon Therapeutics from $21.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, November 20th. Finally, Morgan Stanley upgraded shares of Neon Therapeutics from an “underweight” rating to an “equal weight” rating and set a $2.18 price target for the company in a research report on Tuesday, January 21st.
Shares of NASDAQ:NTGN traded up $0.03 during trading on Friday, hitting $1.45. 165,500 shares of the company’s stock were exchanged, compared to its average volume of 503,568. Neon Therapeutics has a 1-year low of $0.88 and a 1-year high of $7.51. The firm has a 50-day moving average price of $1.40 and a two-hundred day moving average price of $1.88. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.15. The firm has a market cap of $40.24 million, a P/E ratio of -0.47 and a beta of 1.26.
In related news, insider Richard Gaynor sold 22,322 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $1.24, for a total transaction of $27,679.28. Following the completion of the transaction, the insider now owns 201,822 shares in the company, valued at $250,259.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 38.93% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC acquired a new position in shares of Neon Therapeutics in the third quarter valued at approximately $25,000. UBS Group AG boosted its holdings in shares of Neon Therapeutics by 70.6% in the fourth quarter. UBS Group AG now owns 25,293 shares of the company’s stock valued at $30,000 after buying an additional 10,469 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Neon Therapeutics in the third quarter valued at approximately $35,000. Millennium Management LLC bought a new stake in shares of Neon Therapeutics in the third quarter worth $45,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of Neon Therapeutics in the first quarter worth $49,000. Hedge funds and other institutional investors own 58.33% of the company’s stock.
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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