BMO Capital Markets Forecasts Strong Price Appreciation for Neurogene (NASDAQ:NGNE) Stock

Neurogene (NASDAQ:NGNE - Get Free Report) had its target price upped by analysts at BMO Capital Markets from $22.00 to $26.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. BMO Capital Markets' price objective would suggest a potential upside of 27.45% from the company's previous close.

Other analysts have also issued reports about the stock. HC Wainwright lowered their price objective on shares of Neurogene from $50.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Baird R W lowered shares of Neurogene from a "strong-buy" rating to a "hold" rating in a report on Friday, May 16th. William Blair restated an "outperform" rating on shares of Neurogene in a report on Tuesday, March 25th. Finally, Robert W. Baird downgraded shares of Neurogene from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $38.00 to $24.00 in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $45.40.

Neurogene Trading Down 2.5%

Shares of NASDAQ:NGNE traded down $0.52 on Thursday, reaching $20.40. 151,561 shares of the company traded hands, compared to its average volume of 250,449. The business's 50-day simple moving average is $15.34 and its 200 day simple moving average is $17.65. Neurogene has a 52 week low of $6.88 and a 52 week high of $74.49. The stock has a market capitalization of $290.94 million, a P/E ratio of -4.69 and a beta of 1.57.

Neurogene (NASDAQ:NGNE - Get Free Report) last posted its 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). Sell-side analysts expect that Neurogene will post -4.27 EPS for the current fiscal year.

Insider Transactions at Neurogene

In related news, insider Stuart Cobb sold 6,797 shares of Neurogene stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $15.15, for a total transaction of $102,974.55. Following the transaction, the insider now owns 20,794 shares in the company, valued at approximately $315,029.10. The trade was a 24.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.64% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NGNE. PNC Financial Services Group Inc. purchased a new stake in Neurogene in the 4th quarter worth $71,000. Virtus ETF Advisers LLC grew its holdings in Neurogene by 45.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company's stock valued at $73,000 after purchasing an additional 989 shares during the last quarter. GAMMA Investing LLC grew its stake 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 acquiring an additional 4,000 shares in the last quarter. Wells Fargo & Company MN grew its stake in Neurogene by 34.5% in the 4th quarter. Wells Fargo & Company MN now owns 5,444 shares of the company's stock worth $124,000 after acquiring an additional 1,397 shares in the last quarter. Finally, Corebridge Financial Inc. grew its stake in Neurogene by 13.8% in the 1st quarter. Corebridge Financial Inc. now owns 5,826 shares of the company's stock worth $68,000 after acquiring an additional 705 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

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.