Neon Therapeutics Inc (NASDAQ:NTGN) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 690,200 shares, an increase of 14.9% from the July 31st total of 600,600 shares. Based on an average daily trading volume, of 188,300 shares, the short-interest ratio is presently 3.7 days. Approximately 4.8% of the shares of the company are short sold.

Several large investors have recently modified their holdings of NTGN. Bank of America Corp DE lifted its stake in shares of Neon Therapeutics by 42.7% in the 4th quarter. Bank of America Corp DE now owns 21,712 shares of the company’s stock worth $109,000 after acquiring an additional 6,493 shares during the period. Rhumbline Advisers acquired a new stake in shares of Neon Therapeutics in the 1st quarter worth approximately $78,000. Acadian Asset Management LLC acquired a new stake in shares of Neon Therapeutics in the 1st quarter worth approximately $268,000. Marshall Wace North America L.P. acquired a new stake in shares of Neon Therapeutics in the 1st quarter worth approximately $49,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Neon Therapeutics by 112.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 71,443 shares of the company’s stock worth $339,000 after acquiring an additional 37,755 shares during the period. 67.14% of the stock is owned by institutional investors.

A number of brokerages recently weighed in on NTGN. Robert W. Baird began coverage on shares of Neon Therapeutics in a research report on Thursday, July 25th. They set an “outperform” rating and a $15.00 price objective for the company. ValuEngine raised shares of Neon Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. HC Wainwright boosted their price objective on shares of Neon Therapeutics from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Morgan Stanley reduced their target price on shares of Neon Therapeutics from $19.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, July 16th. Finally, Mizuho set a $21.00 target price on shares of Neon Therapeutics and gave the company a “buy” rating in a research note on Monday, July 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Neon Therapeutics has an average rating of “Buy” and an average target price of $14.43.

Neon Therapeutics stock traded down $0.02 during midday trading on Friday, reaching $2.68. 913 shares of the stock traded hands, compared to its average volume of 1,162,791. The company has a current ratio of 6.13, a quick ratio of 6.13 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average price of $2.78 and a two-hundred day moving average price of $4.76. The firm has a market cap of $77.19 million, a price-to-earnings ratio of -0.49 and a beta of 1.57. Neon Therapeutics has a fifty-two week low of $2.23 and a fifty-two week high of $12.69.

Neon Therapeutics (NASDAQ:NTGN) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.01). Analysts anticipate that Neon Therapeutics will post -2.55 earnings per share for the current year.

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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