Neurogene Inc. (NASDAQ:NGNE) Receives $48.60 Average PT from Analysts

Shares of Neurogene Inc. (NASDAQ:NGNE) have received an average rating of “Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $48.60.

NGNE has been the topic of several recent analyst reports. Leerink Partnrs reiterated an “outperform” rating on shares of Neurogene in a report on Monday, April 29th. William Blair initiated coverage on Neurogene in a research note on Thursday, March 21st. They set an “outperform” rating and a $61.00 target price for the company. SVB Leerink initiated coverage on Neurogene in a research report on Monday, April 29th. They issued an “outperform” rating and a $46.00 price target on the stock. Baird R W raised Neurogene to a “strong-buy” rating in a research report on Tuesday, June 11th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Neurogene in a research report on Thursday, June 20th.

Neurogene Trading Up 2.4 %

Shares of NASDAQ NGNE opened at $31.75 on Thursday. The firm’s 50-day moving average is $33.88. Neurogene has a 52 week low of $12.20 and a 52 week high of $53.00.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings results on Friday, May 10th. The company reported ($1.00) EPS for the quarter, beating the consensus estimate of ($1.03) by $0.03. Research analysts expect that Neurogene will post -4.15 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Neurogene during the 1st quarter worth about $120,000. Privium Fund Management UK Ltd bought a new position in Neurogene during the first quarter worth about $274,000. BML Capital Management LLC acquired a new stake in Neurogene during the fourth quarter valued at approximately $478,000. Baker BROS. Advisors LP grew its stake in shares of Neurogene by 0.6% in the 1st quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock valued at $23,211,000 after purchasing an additional 2,499 shares during the period. Finally, Avidity Partners Management LP bought a new stake in shares of Neurogene in the 4th quarter valued at approximately $9,036,000. 52.37% of the stock is owned by institutional investors.

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.