Neon Therapeutics (NASDAQ:NTGN) Downgraded to “Neutral” at Bank of America

Bank of America downgraded shares of Neon Therapeutics (NASDAQ:NTGN) from a buy rating to a neutral rating in a research note issued to investors on Wednesday, Briefing.com Automated Import reports.

Several other analysts have also recently issued reports on NTGN. ValuEngine raised Neon Therapeutics from a hold rating to a buy rating in a report on Thursday, August 1st. Zacks Investment Research raised Neon Therapeutics from a hold rating to a buy rating and set a $2.00 price objective on the stock in a report on Saturday, October 12th. Morgan Stanley decreased their price objective on Neon Therapeutics from $19.00 to $13.00 and set an overweight rating on the stock in a report on Tuesday, July 16th. Robert W. Baird initiated coverage on Neon Therapeutics in a report on Thursday, July 25th. They set an outperform rating and a $15.00 price objective on the stock. Finally, Mizuho reaffirmed a buy rating and set a $21.00 price objective on shares of Neon Therapeutics in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Neon Therapeutics presently has an average rating of Buy and a consensus target price of $13.00.

Shares of NASDAQ NTGN traded down $0.15 during midday trading on Wednesday, hitting $1.50. 141,800 shares of the company’s stock traded hands, compared to its average volume of 137,550. The stock has a market capitalization of $42.51 million, a price-to-earnings ratio of -0.27 and a beta of 1.59. Neon Therapeutics has a 1 year low of $1.47 and a 1 year high of $7.51. The firm has a fifty day moving average of $1.95 and a 200 day moving average of $3.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 6.13 and a current ratio of 4.59.

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 the Thomson Reuters’ consensus estimate of ($0.64) by ($0.04). On average, equities analysts anticipate that Neon Therapeutics will post -2.55 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC purchased a new stake in Neon Therapeutics during the 3rd quarter valued at $25,000. Marshall Wace North America L.P. purchased a new stake in Neon Therapeutics during the 1st quarter valued at $49,000. Westfield Capital Management Co. LP purchased a new stake in Neon Therapeutics during the 2nd quarter valued at $149,000. Morgan Stanley raised its holdings 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. Finally, Bank of New York Mellon Corp raised its holdings in Neon Therapeutics by 112.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 71,443 shares of the company’s stock valued at $339,000 after buying an additional 37,755 shares during the period. Institutional investors own 67.91% of the company’s stock.

About Neon Therapeutics

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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Analyst Recommendations for Neon Therapeutics (NASDAQ:NTGN)

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