Neurogene Inc. (NASDAQ:NGNE) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Neurogene Inc. (NASDAQ:NGNE) has received a consensus recommendation of "Moderate Buy" from analysts, with an average 12-month target price of $46.17.
• Institutional investors have shown significant interest, with 52.37% of the stock now held by entities like Nuveen LLC and Wellington Management, who increased their stakes recently.
• The company reported an EPS of -$1.05 for the last quarter, exceeding analysts' expectations, and forecasts a projected EPS of -$4.27 for the current year.

Shares of Neurogene Inc. (NASDAQ:NGNE - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $46.1667.

A number of research firms have commented on NGNE. Craig Hallum began coverage on shares of Neurogene in a research report on Tuesday, June 17th. They set a "buy" rating and a $50.00 price target on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Neurogene in a research report on Wednesday. Finally, HC Wainwright reiterated a "buy" rating and issued a $45.00 target price on shares of Neurogene in a report on Thursday.

Institutional Trading of Neurogene

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen LLC bought a new stake in shares of Neurogene in the 1st quarter worth approximately $322,000. Wellington Management Group LLP raised its holdings in shares of Neurogene by 58.5% in the 1st quarter. Wellington Management Group LLP now owns 34,421 shares of the company's stock worth $403,000 after purchasing an additional 12,704 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Neurogene by 2,985.1% during the first quarter. GAMMA Investing LLC now owns 4,134 shares of the company's stock valued at $48,000 after acquiring an additional 4,000 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Neurogene by 8.2% during the first quarter. Bank of New York Mellon Corp now owns 24,445 shares of the company's stock valued at $286,000 after acquiring an additional 1,844 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in shares of Neurogene during the first quarter valued at approximately $148,000. 52.37% of the stock is currently owned by institutional investors.

Neurogene Trading Down 4.3%

NGNE stock opened at $30.21 on Friday. Neurogene has a 52 week low of $6.88 and a 52 week high of $74.49. The company has a market capitalization of $431.10 million, a price-to-earnings ratio of -7.01 and a beta of 1.58. The firm's 50-day moving average is $20.09 and its two-hundred day moving average is $18.02.

Neurogene (NASDAQ:NGNE - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($1.05) EPS for the quarter, topping analysts' consensus estimates of ($1.15) by $0.10. On average, equities research analysts predict that Neurogene will post -4.27 earnings per share for the current year.

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.

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