Zacks Investment Research downgraded shares of Neon Therapeutics (NASDAQ:NTGN) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

According to Zacks, “Neon Therapeutics Inc. is a clinical-stage immuno-oncology company. It engaged in developing neoantigen-based therapeutics for the treatment of cancer by directing the immune system. The company’s product pipeline consists of NEO-PV-01, NEO-PTC-01 and NEO-SV-01 which are in clinical stage. Neon Therapeutics Inc. is based in Cambridge, United States. “

Separately, ValuEngine lowered shares of Neon Therapeutics from a buy rating to a hold rating in a research report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Neon Therapeutics has a consensus rating of Buy and a consensus price target of $17.83.

Neon Therapeutics stock traded down $0.23 during midday trading on Friday, reaching $5.61. The stock had a trading volume of 829,895 shares, compared to its average volume of 143,422. Neon Therapeutics has a 52-week low of $4.20 and a 52-week high of $16.23. The firm has a market capitalization of $168.56 million and a P/E ratio of -1.01.

Neon Therapeutics (NASDAQ:NTGN) last posted its quarterly earnings data on Monday, March 11th. The company reported ($0.84) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.73) by ($0.11). On average, equities analysts predict that Neon Therapeutics will post -2.66 EPS for the current year.

Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in Neon Therapeutics by 17.6% in the 4th quarter. Bank of New York Mellon Corp now owns 19,427 shares of the company’s stock worth $98,000 after purchasing an additional 2,905 shares during the period. Bank of America Corp DE raised its position in 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 purchasing an additional 6,493 shares during the period. Northern Trust Corp purchased a new stake in Neon Therapeutics in the 2nd quarter worth about $137,000. Geode Capital Management LLC grew its stake in Neon Therapeutics by 127.0% in the 4th quarter. Geode Capital Management LLC now owns 60,309 shares of the company’s stock worth $303,000 after acquiring an additional 33,741 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Neon Therapeutics by 12.0% in the 4th quarter. BlackRock Inc. now owns 307,782 shares of the company’s stock worth $1,548,000 after acquiring an additional 32,943 shares in the last quarter. 72.08% of the stock is currently owned by institutional investors.

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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