Neurogene Inc. (NASDAQ:NGNE) Expected to Post Q1 2024 Earnings of ($1.19) Per Share

Neurogene Inc. (NASDAQ:NGNE) – Leerink Partnrs issued their Q1 2024 EPS estimates for Neurogene in a research report issued on Monday, April 29th. Leerink Partnrs analyst M. Foroohar anticipates that the company will earn ($1.19) per share for the quarter. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Neurogene’s current full-year earnings is ($6.77) per share.

Several other equities research analysts have also commented on the company. SVB Leerink began coverage on Neurogene in a research report on Monday. They issued an “outperform” rating and a $46.00 price objective on the stock. TD Cowen assumed coverage on Neurogene in a research note on Thursday, January 4th. They set an “outperform” rating for the company. HC Wainwright increased their price objective on Neurogene from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. William Blair started coverage on Neurogene in a research note on Thursday, March 21st. They issued an “outperform” rating and a $61.00 price objective for the company. Finally, Stifel Nicolaus started coverage on Neurogene in a research note on Friday, January 5th. They issued a “buy” rating and a $31.00 target price for the company. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $48.25.

Neurogene Trading Down 2.1 %

Shares of NASDAQ NGNE opened at $33.77 on Wednesday. The firm has a 50 day moving average price of $38.08. The stock has a market capitalization of $434.48 million, a price-to-earnings ratio of -2.71 and a beta of 1.26. Neurogene has a 52 week low of $12.20 and a 52 week high of $53.00.

Hedge Funds Weigh In On Neurogene

A number of hedge funds have recently modified their holdings of NGNE. Great Point Partners LLC acquired a new position in Neurogene during the fourth quarter worth approximately $19,268,000. Avidity Partners Management LP acquired a new position in Neurogene during the fourth quarter worth approximately $9,036,000. BML Capital Management LLC acquired a new position in Neurogene during the fourth quarter worth approximately $478,000. Finally, Privium Fund Management UK Ltd acquired a new position in Neurogene during the first quarter worth approximately $274,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

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.