Morgan Stanley Upgrades Neon Therapeutics (NASDAQ:NTGN) to Equal Weight

Neon Therapeutics (NASDAQ:NTGN) was upgraded by stock analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued on Tuesday, The Fly reports. The firm currently has a $2.18 target price on the stock. Morgan Stanley’s price objective indicates a potential upside of 27.49% from the company’s previous close.

NTGN has been the topic of several other research reports. Robert W. Baird downgraded shares of Neon Therapeutics from an “outperform” rating to a “neutral” rating in a research note on Thursday, January 16th. Bank of America cut Neon Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, November 13th. Zacks Investment Research raised Neon Therapeutics from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a report on Saturday, January 4th. HC Wainwright reissued a “hold” rating on shares of Neon Therapeutics in a report on Thursday, December 19th. Finally, Mizuho cut their price objective on Neon Therapeutics from $21.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $8.74.

Shares of Neon Therapeutics stock traded down $0.11 during trading on Tuesday, hitting $1.71. 16,870 shares of the stock were exchanged, compared to its average volume of 486,619. The stock’s fifty day moving average is $1.23 and its 200 day moving average is $2.17. The stock has a market cap of $49.88 million, a PE ratio of -0.56 and a beta of 1.35. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.59 and a current ratio of 4.59. Neon Therapeutics has a 12 month low of $0.88 and a 12 month high of $7.51.

Neon Therapeutics (NASDAQ:NTGN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.64) by ($0.04). Sell-side analysts anticipate that Neon Therapeutics will post -2.37 EPS for the current fiscal year.

In other news, insider Richard Gaynor sold 22,322 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $1.24, for a total value of $27,679.28. Following the completion of the sale, the insider now directly owns 201,822 shares in the company, valued at $250,259.28. The sale was disclosed in a filing with the SEC, which is accessible through this link. 38.93% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in NTGN. Marshall Wace North America L.P. acquired a new stake in Neon Therapeutics in the first quarter worth about $49,000. Bank of New York Mellon Corp grew its holdings in shares of 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 worth $339,000 after purchasing an additional 37,755 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Neon Therapeutics by 8.5% during the 2nd quarter. Northern Trust Corp now owns 166,467 shares of the company’s stock worth $789,000 after purchasing an additional 12,971 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Neon Therapeutics by 11.6% during the 2nd quarter. BlackRock Inc. now owns 765,850 shares of the company’s stock worth $3,631,000 after purchasing an additional 79,729 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Neon Therapeutics by 3.6% during the 2nd quarter. Vanguard Group Inc. now owns 612,398 shares of the company’s stock worth $2,903,000 after purchasing an additional 21,387 shares in the last quarter. 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.

Further Reading: Initial Coin Offerings entail a high degree of risk

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Analyst Recommendations for Neon Therapeutics (NASDAQ:NTGN)

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