Neurogene Inc. (NASDAQ:NGNE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Neurogene Inc. (NASDAQ:NGNE) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $49.50.

Several research firms have recently commented on NGNE. HC Wainwright raised their price objective on Neurogene from $45.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neurogene in a research report on Wednesday, October 8th.

Institutional Trading of Neurogene

Several institutional investors have recently made changes to their positions in the business. Corebridge Financial Inc. grew its position in shares of Neurogene by 13.8% during the first quarter. Corebridge Financial Inc. now owns 5,826 shares of the company’s stock worth $68,000 after purchasing an additional 705 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Neurogene by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,231 shares of the company’s stock worth $132,000 after purchasing an additional 941 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Neurogene by 17.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after purchasing an additional 1,059 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Neurogene by 43.6% during the second quarter. PNC Financial Services Group Inc. now owns 4,055 shares of the company’s stock worth $61,000 after purchasing an additional 1,232 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Neurogene by 8.2% during the first quarter. Bank of New York Mellon Corp now owns 24,445 shares of the company’s stock worth $286,000 after purchasing an additional 1,844 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Neurogene Stock Up 2.4%

NASDAQ NGNE opened at $31.80 on Wednesday. The stock’s 50-day moving average price is $23.95 and its 200-day moving average price is $20.72. Neurogene has a 52 week low of $6.88 and a 52 week high of $74.49. The company has a market capitalization of $453.85 million, a P/E ratio of -7.38 and a beta of 1.63.

Neurogene (NASDAQ:NGNE) last posted its quarterly earnings data on Monday, August 11th. The company reported ($1.05) EPS for the quarter, topping the consensus estimate of ($1.15) by $0.10. Research analysts anticipate that Neurogene will post -4.27 EPS 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.