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

Key Points

• Neurogene Inc. (NASDAQ:NGNE) received a consensus recommendation of "Moderate Buy" from eight research firms, with two analysts suggesting a hold and six recommending to buy.
• The average 1-year price target for Neurogene shares is $46.17, indicating potential for significant growth from its current trading price.
• Neurogene's share price has fluctuated significantly over the past year, with a low of $6.88 and a high of $74.49, highlighting its volatility in the biotech sector.

Shares of Neurogene Inc. (NASDAQ:NGNE - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $46.1667.

NGNE has been the subject of a number of research reports. BMO Capital Markets restated an "outperform" rating and set a $26.00 target price (up previously from $22.00) on shares of Neurogene in a research note on Thursday, June 12th. Craig Hallum initiated coverage on shares of Neurogene in a research note on Tuesday, June 17th. They set a "buy" rating and a $50.00 target price for the company.

Institutional Trading of Neurogene

A number of hedge funds have recently modified their holdings of NGNE. Northern Trust Corp lifted its stake in shares of Neurogene by 6.2% during the 4th quarter. Northern Trust Corp now owns 100,566 shares of the company's stock worth $2,299,000 after buying an additional 5,845 shares during the last quarter. Two Sigma Investments LP bought a new position in Neurogene during the fourth quarter worth about $472,000. Squarepoint Ops LLC increased its position in Neurogene by 250.0% during the fourth quarter. Squarepoint Ops LLC now owns 17,431 shares of the company's stock worth $398,000 after acquiring an additional 12,451 shares during the period. Vestal Point Capital LP bought a new position in Neurogene during the fourth quarter worth about $1,829,000. Finally, Wellington Management Group LLP increased its position in Neurogene by 18.7% during the fourth quarter. Wellington Management Group LLP now owns 21,717 shares of the company's stock worth $496,000 after acquiring an additional 3,427 shares during the period. Institutional investors and hedge funds own 52.37% of the company's stock.

Neurogene Price Performance

Shares of NGNE stock opened at $17.45 on Tuesday. The stock has a market cap of $249.01 million, a P/E ratio of -4.05 and a beta of 1.58. The company has a fifty day moving average price of $20.66 and a two-hundred day moving average price of $17.49. Neurogene has a one year low of $6.88 and a one year high of $74.49.

Neurogene (NASDAQ:NGNE - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The company reported ($1.05) EPS for the quarter, beating analysts' consensus estimates of ($1.15) by $0.10. As a group, equities research analysts anticipate that Neurogene will post -4.27 EPS for the current fiscal 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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