Neurogene (NASDAQ:NGNE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Neurogene (NASDAQ:NGNE) from a sell rating to a hold rating in a research report released on Saturday morning.

Several other equities analysts also recently issued reports on NGNE. HC Wainwright boosted their price target on shares of Neurogene from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Neurogene has an average rating of “Hold” and a consensus target price of $42.50.

Neurogene Stock Down 1.4%

Neurogene stock opened at $22.46 on Friday. The firm has a fifty day moving average of $25.33 and a 200-day moving average of $21.51. Neurogene has a 52-week low of $6.88 and a 52-week high of $37.27. The firm has a market capitalization of $320.55 million, a P/E ratio of -5.21 and a beta of 1.64.

Neurogene (NASDAQ:NGNE) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.99) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.27. On average, research analysts expect that Neurogene will post -4.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Neurogene

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new stake in Neurogene in the 1st quarter valued at approximately $322,000. Jennison Associates LLC boosted its position in shares of Neurogene by 55.0% in the second quarter. Jennison Associates LLC now owns 167,563 shares of the company’s stock valued at $2,505,000 after acquiring an additional 59,479 shares during the period. Wellington Management Group LLP grew its stake in shares of Neurogene by 58.5% in the first quarter. Wellington Management Group LLP now owns 34,421 shares of the company’s stock worth $403,000 after acquiring an additional 12,704 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Neurogene by 8.2% in the first quarter. Bank of New York Mellon Corp now owns 24,445 shares of the company’s stock worth $286,000 after acquiring an additional 1,844 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in Neurogene during the first quarter worth $148,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

About Neurogene

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.