Neurogene Inc. (NASDAQ:NGNE) Given Consensus Rating of "Buy" by Brokerages

Shares of Neurogene Inc. (NASDAQ:NGNE - Get Free Report) have been given an average recommendation of "Buy" by the six ratings firms that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have covered the stock in the last year is $48.25.

NGNE has been the topic of several research analyst reports. Leerink Partnrs restated an "outperform" rating on shares of Neurogene in a research report on Monday. Stifel Nicolaus initiated coverage on shares of Neurogene in a research report on Friday, January 5th. They set a "buy" rating and a $31.00 target price on the stock. TD Cowen assumed coverage on shares of Neurogene in a research report on Thursday, January 4th. They set an "outperform" rating on the stock. HC Wainwright boosted their price objective on shares of Neurogene from $45.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, March 19th. Finally, William Blair assumed coverage on shares of Neurogene in a research report on Thursday, March 21st. They issued an "outperform" rating and a $61.00 price objective on the stock.

Institutional Investors Weigh In On Neurogene

Several institutional investors and hedge funds have recently made changes to their positions in the business. Privium Fund Management UK Ltd acquired a new position in Neurogene during the first quarter valued at approximately $274,000. Great Point Partners LLC acquired a new position in Neurogene during the fourth quarter valued at approximately $19,268,000. Avidity Partners Management LP acquired a new position in Neurogene during the fourth quarter valued at approximately $9,036,000. Finally, BML Capital Management LLC acquired a new position in Neurogene during the fourth quarter valued at approximately $478,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Neurogene Stock Down 2.1 %

NGNE traded down $0.71 during trading on Wednesday, hitting $33.77. The stock had a trading volume of 61,261 shares, compared to its average volume of 125,383. The company has a market capitalization of $434.48 million, a price-to-earnings ratio of -2.71 and a beta of 1.26. The business has a 50-day moving average of $38.08. Neurogene has a twelve month low of $12.20 and a twelve month high of $53.00.

Neurogene Company Profile

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.