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

Shares of Neurogene Inc. (NASDAQ:NGNE) have been assigned a consensus rating of “Buy” from the six brokerages that are covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $48.25.

NGNE has been the subject of a number of recent analyst reports. Leerink Partnrs reaffirmed an “outperform” rating on shares of Neurogene in a research note on Monday, April 29th. William Blair initiated coverage on Neurogene in a research note on Thursday, March 21st. They issued an “outperform” rating and a $61.00 price target for the company. HC Wainwright reiterated a “buy” rating and set a $55.00 price objective on shares of Neurogene in a research report on Friday. Finally, SVB Leerink assumed coverage on shares of Neurogene in a report on Monday, April 29th. They issued an “outperform” rating and a $46.00 target price on the stock.

Hedge Funds Weigh In On Neurogene

Several institutional investors have recently added to or reduced their stakes in NGNE. BML Capital Management LLC purchased a new stake in shares of Neurogene during the 4th quarter worth approximately $478,000. Privium Fund Management UK Ltd purchased a new stake in Neurogene during the first quarter valued at $274,000. Great Point Partners LLC purchased a new stake in Neurogene during the fourth quarter valued at $19,268,000. Finally, Avidity Partners Management LP bought a new position in Neurogene during the fourth quarter valued at $9,036,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Neurogene Price Performance

Shares of Neurogene stock opened at $36.63 on Wednesday. Neurogene has a fifty-two week low of $12.20 and a fifty-two week high of $53.00. The company has a market cap of $471.43 million, a P/E ratio of -2.94 and a beta of 1.36. The business has a fifty day moving average price of $38.32.

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.