Neurogene Inc. (NASDAQ:NGNE) Given Average Rating of “Buy” by Brokerages

Shares of Neurogene Inc. (NASDAQ:NGNE) have been assigned an average rating of “Buy” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $51.00.

NGNE has been the topic of several recent research reports. BMO Capital Markets assumed coverage on shares of Neurogene in a report on Thursday, June 27th. They issued an “outperform” rating and a $65.00 price objective on the stock. Baird R W raised Neurogene to a “strong-buy” rating in a research report on Tuesday, June 11th. Robert W. Baird started coverage on Neurogene in a research note on Tuesday, June 11th. They set an “outperform” rating and a $54.00 price objective for the company. Finally, HC Wainwright lowered their target price on Neurogene from $51.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, August 12th.

Institutional Investors Weigh In On Neurogene

Institutional investors have recently modified their holdings of the business. Driehaus Capital Management LLC raised its holdings in shares of Neurogene by 123.8% during the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock valued at $3,719,000 after acquiring an additional 56,533 shares during the last quarter. Marshall Wace LLP increased its position in shares of Neurogene by 37.2% during the second quarter. Marshall Wace LLP now owns 41,447 shares of the company’s stock worth $1,508,000 after purchasing an additional 11,229 shares in the last quarter. Integral Health Asset Management LLC acquired a new position in Neurogene in the 2nd quarter valued at $2,547,000. Avoro Capital Advisors LLC purchased a new position in Neurogene in the 2nd quarter valued at $802,000. Finally, Quest Partners LLC acquired a new stake in Neurogene during the 2nd quarter worth $55,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Neurogene Stock Up 1.8 %

Shares of NGNE opened at $35.00 on Tuesday. The stock has a 50-day moving average of $38.20 and a two-hundred day moving average of $36.98. Neurogene has a one year low of $12.49 and a one year high of $53.00.

Neurogene (NASDAQ:NGNE) last released its earnings results on Friday, August 9th. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.07). The company had revenue of $0.93 million during the quarter. On average, equities analysts expect that Neurogene will post -4.47 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.