Neurogene (NASDAQ:NGNE) Earns Sell (D-) Rating from Weiss Ratings

Key Points

• Neurogene's stock was given a "sell (D-)" rating by Weiss Ratings, highlighting concerns over its performance.
• Despite the negative rating, six research analysts maintain a "buy" rating for Neurogene, with a consensus target price of $46.17.
• Shares of Neurogene opened at $25.83 and have experienced significant fluctuations, with a 12-month high of $74.49 and a low of $6.88.

Neurogene (NASDAQ:NGNE - Get Free Report)'s stock had its "sell (d-)" rating reissued by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently commented on NGNE. 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 price target for the company. HC Wainwright set a $45.00 price target on shares of Neurogene and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $26.00 target price (up previously from $22.00) on shares of Neurogene in a research note on Thursday, June 12th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $46.17.

Neurogene Stock Up 10.1%

Shares of NGNE opened at $25.83 on Wednesday. The stock has a market cap of $368.65 million, a price-to-earnings ratio of -5.99 and a beta of 1.58. Neurogene has a 12 month low of $6.88 and a 12 month high of $74.49. The company has a 50-day moving average price of $19.72 and a two-hundred day moving average price of $17.79.

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, topping analysts' consensus estimates of ($1.15) by $0.10. Equities research analysts expect that Neurogene will post -4.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its position in Neurogene by 2,985.1% in the 1st quarter. GAMMA Investing LLC now owns 4,134 shares of the company's stock worth $48,000 after purchasing an additional 4,000 shares during the last quarter. Bank of New York Mellon Corp raised its position in Neurogene by 8.2% in the 1st quarter. Bank of New York Mellon Corp now owns 24,445 shares of the company's stock worth $286,000 after purchasing an additional 1,844 shares during the last quarter. Jennison Associates LLC raised its position in Neurogene by 48.9% in the 1st quarter. Jennison Associates LLC now owns 108,084 shares of the company's stock worth $1,266,000 after purchasing an additional 35,488 shares during the last quarter. Blair William & Co. IL raised its position in Neurogene by 141.3% in the 1st quarter. Blair William & Co. IL now owns 151,180 shares of the company's stock worth $1,770,000 after purchasing an additional 88,540 shares during the last quarter. Finally, Raiffeisen Bank International AG raised its position in Neurogene by 87.5% in the 1st quarter. Raiffeisen Bank International AG now owns 30,000 shares of the company's stock worth $351,000 after purchasing an additional 14,000 shares during the last quarter. Institutional investors own 52.37% of the company's stock.

About Neurogene

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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