Neurogene Inc. (NASDAQ:NGNE) Receives Consensus Recommendation of “Buy” from Brokerages

by · The Cerbat Gem

Neurogene Inc. (NASDAQ:NGNE – Get Free Report) has earned a consensus recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $51.00.

NGNE has been the topic of several analyst reports. Baird R W upgraded shares of Neurogene to a “strong-buy” rating in a research note on Tuesday, June 11th. Robert W. Baird initiated coverage on shares of Neurogene in a research note on Tuesday, June 11th. They set an “outperform” rating and a $54.00 price target on the stock. BMO Capital Markets initiated coverage on shares of Neurogene in a research note on Thursday, June 27th. They set an “outperform” rating and a $65.00 price target on the stock. Finally, HC Wainwright dropped their price target on shares of Neurogene from $51.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, August 12th.

Get Our Latest Research Report on Neurogene

Neurogene Trading Up 9.4 %

NGNE stock opened at $48.59 on Friday. Neurogene has a 12-month low of $12.49 and a 12-month high of $53.00. The company has a 50 day moving average of $38.21 and a two-hundred day moving average of $37.87.

Neurogene (NASDAQ:NGNE – Get Free Report) last announced its quarterly earnings results on Friday, August 9th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.07). The firm had revenue of $0.93 million for the quarter. Equities research analysts expect that Neurogene will post -4.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Avidity Partners Management LP acquired a new position in Neurogene in the 4th quarter valued at $9,036,000. Great Point Partners LLC acquired a new position in Neurogene in the 4th quarter valued at $19,268,000. Driehaus Capital Management LLC grew its position in Neurogene by 123.8% in the 2nd quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock worth $3,719,000 after purchasing an additional 56,533 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Neurogene in the 2nd quarter worth $1,107,000. Finally, Vanguard Group Inc. grew its position in Neurogene by 906.5% in the 1st quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock worth $25,831,000 after purchasing an additional 457,062 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Neurogene Company Profile

(Get Free Report

Neurogene Inc, a biotechnology company, develops genetic medicines for rare neurological diseases. The company's product candidates include NGN-401 which is packaged in an adeno-associated virus 9 that is in Phase 1/2 clinical trial for the treatment of Rett syndrome; and NGN-101, a conventional gene therapy candidate that is in Phase 1/2 clinical trial to treat CLN5 Batten disease.

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