Neurogene Inc. (NASDAQ:NGNE) Short Interest Update

Neurogene Inc. (NASDAQ:NGNE) was the target of a significant decline in short interest during the month of February. As of February 15th, there was short interest totalling 1,750,000 shares, a decline of 12.9% from the January 31st total of 2,010,000 shares. Based on an average daily trading volume, of 321,600 shares, the short-interest ratio is presently 5.4 days. Currently, 10.1% of the company’s shares are sold short.

Analyst Ratings Changes

NGNE has been the topic of a number of recent research reports. Robert W. Baird raised their price objective on shares of Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Stifel Nicolaus raised their price target on Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. William Blair reiterated an “outperform” rating on shares of Neurogene in a report on Tuesday, November 19th. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Neurogene in a report on Monday, November 25th. Finally, Leerink Partners boosted their target price on Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Neurogene has a consensus rating of “Buy” and a consensus price target of $60.83.

Neurogene Stock Down 1.1 %

NASDAQ:NGNE traded down $0.19 on Thursday, reaching $16.72. The company’s stock had a trading volume of 60,179 shares, compared to its average volume of 207,887. The business’s 50-day moving average price is $18.61 and its two-hundred day moving average price is $31.09. Neurogene has a 1-year low of $14.42 and a 1-year high of $74.49.

Hedge Funds Weigh In On Neurogene

A number of large investors have recently added to or reduced their stakes in NGNE. Casdin Capital LLC raised its holdings in shares of Neurogene by 146.9% in the fourth quarter. Casdin Capital LLC now owns 1,295,361 shares of the company’s stock valued at $29,612,000 after purchasing an additional 770,745 shares during the last quarter. FMR LLC increased its holdings in Neurogene by 912.4% during the third quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after buying an additional 659,515 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Neurogene by 10,395.3% in the 4th quarter. JPMorgan Chase & Co. now owns 481,001 shares of the company’s stock valued at $10,996,000 after acquiring an additional 476,418 shares during the period. Samsara BioCapital LLC lifted its stake in Neurogene by 35.4% in the 4th quarter. Samsara BioCapital LLC now owns 1,717,127 shares of the company’s stock valued at $39,254,000 after purchasing an additional 449,337 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C acquired a new stake in shares of Neurogene in the fourth quarter valued at approximately $10,245,000. 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.