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

Neon Therapeutics Inc (NASDAQ:NTGN) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 600,600 shares, a growth of 5.4% from the June 30th total of 569,900 shares. Approximately 4.4% of the shares of the company are sold short. Based on an average daily volume of 180,700 shares, the days-to-cover ratio is currently 3.3 days.

A number of large investors have recently made changes to their positions in NTGN. BlackRock Inc. increased its stake in Neon Therapeutics by 11.6% in the second quarter. BlackRock Inc. now owns 765,850 shares of the company’s stock valued at $3,631,000 after acquiring an additional 79,729 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Neon Therapeutics during the first quarter worth $268,000. Bank of New York Mellon Corp grew its stake in shares of Neon Therapeutics by 112.1% during the second quarter. Bank of New York Mellon Corp now owns 71,443 shares of the company’s stock worth $339,000 after buying an additional 37,755 shares during the last quarter. Northern Trust Corp grew its stake in shares of Neon Therapeutics by 68.9% during the fourth quarter. Northern Trust Corp now owns 88,678 shares of the company’s stock worth $446,000 after buying an additional 36,170 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Neon Therapeutics by 127.0% during the fourth quarter. Geode Capital Management LLC now owns 60,309 shares of the company’s stock worth $303,000 after buying an additional 33,741 shares during the last quarter. 69.53% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently commented on NTGN shares. Mizuho set a $21.00 target price on shares of Neon Therapeutics and gave the stock a “buy” rating in a report on Monday, July 1st. HC Wainwright raised their target price on shares of Neon Therapeutics from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Morgan Stanley lowered their target price on shares of Neon Therapeutics from $19.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. Zacks Investment Research cut shares of Neon Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, Robert W. Baird started coverage on shares of Neon Therapeutics in a report on Thursday, July 25th. They set an “outperform” rating and a $15.00 target price on the stock. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $14.43.

NASDAQ:NTGN traded up $0.09 during mid-day trading on Friday, reaching $2.90. The stock had a trading volume of 115,800 shares, compared to its average volume of 162,820. The stock has a 50-day simple moving average of $3.57 and a two-hundred day simple moving average of $5.02. The stock has a market capitalization of $85.42 million, a PE ratio of -0.52 and a beta of 1.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 6.13 and a quick ratio of 6.13. Neon Therapeutics has a 12 month low of $2.31 and a 12 month high of $12.69.

Neon Therapeutics (NASDAQ:NTGN) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.01). Equities analysts expect that Neon Therapeutics will post -2.55 EPS 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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