Q1 2024 EPS Estimates for Neurogene Inc. (NASDAQ:NGNE) Lowered by William Blair

Neurogene Inc. (NASDAQ:NGNE) – William Blair cut their Q1 2024 earnings per share (EPS) estimates for shares of Neurogene in a report issued on Wednesday, April 17th. William Blair analyst S. Corwin now expects that the company will post earnings of ($1.38) per share for the quarter, down from their previous estimate of ($1.12). William Blair has a “Outperform” rating and a $61.00 price target on the stock. The consensus estimate for Neurogene’s current full-year earnings is ($6.77) per share. William Blair also issued estimates for Neurogene’s FY2024 earnings at ($4.61) EPS and FY2025 earnings at ($3.23) EPS.

Several other equities research analysts have also recently issued reports on the stock. HC Wainwright lifted their target price on shares of Neurogene from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. TD Cowen began coverage on shares of Neurogene in a research note on Thursday, January 4th. They set an “outperform” rating for the company. Finally, Stifel Nicolaus started coverage on shares of Neurogene in a research note on Friday, January 5th. They issued a “buy” rating and a $31.00 target price on the stock.

Neurogene Price Performance

Shares of NASDAQ:NGNE opened at $30.49 on Friday. Neurogene has a 1 year low of $12.20 and a 1 year high of $53.00. The firm has a market capitalization of $391.80 million, a price-to-earnings ratio of -2.45 and a beta of 1.26. The stock has a 50 day moving average price of $37.77.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NGNE. Great Point Partners LLC acquired a new position in shares of Neurogene in the 4th quarter valued at $19,268,000. Avidity Partners Management LP acquired a new position in Neurogene in the fourth quarter valued at about $9,036,000. Nantahala Capital Management LLC acquired a new position in Neurogene in the fourth quarter valued at about $1,401,000. Vanguard Group Inc. purchased a new position in Neurogene during the fourth quarter worth about $977,000. Finally, BML Capital Management LLC acquired a new stake in shares of Neurogene during the fourth quarter valued at about $478,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.