Craig Hallum initiated coverage on shares of Neurogene (NASDAQ:NGNE - Free Report) in a research note released on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $50.00 price objective on the stock.
NGNE has been the topic of several other research reports. BMO Capital Markets reissued an "outperform" rating and issued a $26.00 price target (up previously from $22.00) on shares of Neurogene in a research note on Thursday, June 12th. Robert W. Baird downgraded Neurogene from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $38.00 to $24.00 in a report on Friday, May 16th. HC Wainwright cut their target price on Neurogene from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. William Blair reaffirmed an "outperform" rating on shares of Neurogene in a research report on Tuesday, March 25th. Finally, Baird R W cut shares of Neurogene from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Neurogene currently has an average rating of "Moderate Buy" and an average target price of $46.17.
Check Out Our Latest Stock Analysis on Neurogene
Neurogene Price Performance
Shares of NGNE stock traded down $0.54 on Tuesday, reaching $17.76. 108,535 shares of the stock were exchanged, compared to its average volume of 249,878. Neurogene has a one year low of $6.88 and a one year high of $74.49. The stock has a market cap of $253.29 million, a PE ratio of -4.08 and a beta of 1.57. The stock has a 50 day moving average price of $16.63 and a 200 day moving average price of $17.40.
Neurogene (NASDAQ:NGNE - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($1.05) by ($0.03). On average, research analysts expect that Neurogene will post -4.27 earnings per share for the current fiscal year.
Insider Activity
In other news, insider Stuart Cobb sold 6,797 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $15.15, for a total value of $102,974.55. Following the completion of the sale, the insider now owns 20,794 shares in the company, valued at $315,029.10. This represents a 24.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.64% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of NGNE. Baker BROS. Advisors LP boosted its position in Neurogene by 120.4% during the first quarter. Baker BROS. Advisors LP now owns 1,486,200 shares of the company's stock worth $17,403,000 after purchasing an additional 811,750 shares during the period. Casdin Capital LLC lifted its stake in shares of Neurogene by 146.9% during the 4th quarter. Casdin Capital LLC now owns 1,295,361 shares of the company's stock valued at $29,612,000 after buying an additional 770,745 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Neurogene by 10,395.3% during the 4th quarter. JPMorgan Chase & Co. now owns 481,001 shares of the company's stock valued at $10,996,000 after buying an additional 476,418 shares in the last quarter. Samsara BioCapital LLC boosted its holdings in Neurogene by 35.4% in the 4th quarter. Samsara BioCapital LLC now owns 1,717,127 shares of the company's stock worth $39,254,000 after buying an additional 449,337 shares during the period. Finally, Deerfield Management Company L.P. Series C purchased a new position in Neurogene in the 4th quarter valued at approximately $10,245,000. 52.37% of the stock is owned by institutional investors.
About Neurogene
(
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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