Neon Therapeutics Inc (NASDAQ:NTGN) saw strong trading volume on Thursday . 5,688,796 shares were traded during trading, an increase of 763% from the previous session’s volume of 658,827 shares.The stock last traded at $1.70 and had previously closed at $1.23.
Several equities analysts recently weighed in on the stock. Morgan Stanley cut shares of Neon Therapeutics from an “overweight” rating to a “sell” rating in a research note on Tuesday, November 26th. HC Wainwright reaffirmed a “hold” rating on shares of Neon Therapeutics in a research note on Thursday, December 19th. Zacks Investment Research raised shares of Neon Therapeutics from a “hold” rating to a “buy” rating and set a $1.25 target price for the company in a research note on Saturday, January 4th. Mizuho cut their target price 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, Bank of America cut shares of Neon Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $10.54.
The company has a debt-to-equity ratio of 0.15, a current ratio of 4.59 and a quick ratio of 4.59. The company’s 50-day simple moving average is $1.15 and its 200 day simple moving average is $2.27. The firm has a market cap of $33.72 million, a P/E ratio of -0.31 and a beta of 1.35.
In other Neon Therapeutics news, insider Richard Gaynor sold 22,322 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 38.93% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley lifted its holdings in shares of Neon Therapeutics by 10.8% in the 2nd quarter. Morgan Stanley now owns 40,522 shares of the company’s stock worth $192,000 after acquiring an additional 3,939 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Neon Therapeutics in the 1st quarter worth about $49,000. Northern Trust Corp lifted its holdings in shares of Neon Therapeutics by 8.5% in the 2nd quarter. Northern Trust Corp now owns 166,467 shares of the company’s stock worth $789,000 after acquiring an additional 12,971 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Neon Therapeutics in the 3rd quarter worth about $25,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Neon Therapeutics in the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 58.19% of the company’s stock.
Neon Therapeutics Company Profile (NASDAQ:NTGN)
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: Hedge Funds Explained
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