Neon Therapeutics Inc (NASDAQ:NTGN) Sees Large Decrease in Short Interest

Neon Therapeutics Inc (NASDAQ:NTGN) saw a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 573,900 shares, a decline of 19.6% from the December 31st total of 713,900 shares. Currently, 4.0% of the company’s stock are sold short. Based on an average daily trading volume, of 204,200 shares, the short-interest ratio is currently 2.8 days.

A number of analysts recently commented on NTGN shares. Robert W. Baird lowered Neon Therapeutics from an “outperform” rating to a “neutral” rating in a report on Thursday, January 16th. Mizuho dropped their price target on Neon Therapeutics from $21.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, November 20th. Bank of America lowered Neon Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, November 13th. Morgan Stanley upgraded Neon Therapeutics from an “underweight” rating to an “equal weight” rating and set a $2.18 price target on the stock in a report on Tuesday, January 21st. Finally, HC Wainwright reiterated a “neutral” rating on shares of Neon Therapeutics in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $8.74.

Shares of NTGN traded down $0.05 during mid-day trading on Monday, hitting $1.61. The stock had a trading volume of 28,242 shares, compared to its average volume of 564,488. The firm has a market cap of $45.63 million, a P/E ratio of -0.52 and a beta of 1.35. The business has a fifty day moving average price of $1.26 and a 200-day moving average price of $2.14. 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 earnings results 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). As a group, research analysts expect that Neon Therapeutics will post -2.42 earnings per share for the current fiscal year.

In related news, insider Richard Gaynor sold 22,322 shares of Neon Therapeutics stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $1.24, for a total transaction of $27,679.28. Following the transaction, the insider now owns 201,822 shares of the company’s stock, valued at $250,259.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 38.93% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC raised its stake in shares of Neon Therapeutics by 19.0% during the 4th quarter. FNY Investment Advisers LLC now owns 250,000 shares of the company’s stock valued at $295,000 after purchasing an additional 40,000 shares during the period. Millennium Management LLC bought a new stake in shares of Neon Therapeutics during the 3rd quarter valued at $45,000. Squarepoint Ops LLC bought a new stake in shares of Neon Therapeutics during the 3rd quarter valued at $35,000. State Street Corp raised its stake in shares of Neon Therapeutics by 14.7% during the 3rd quarter. State Street Corp now owns 221,268 shares of the company’s stock valued at $381,000 after purchasing an additional 28,334 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new position in Neon Therapeutics during the third quarter worth about $25,000. Institutional investors own 58.33% 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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