Neurogene Inc. (NASDAQ:NGNE) Given Consensus Rating of “Buy” by Brokerages

Shares of Neurogene Inc. (NASDAQ:NGNE) have been given a consensus recommendation of “Buy” by the nine ratings firms that are covering the stock, Marketbeat.com reports. Eight 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 analysts that have covered the stock in the last year is $63.33.

Several brokerages have recently commented on NGNE. HC Wainwright raised their target price on Neurogene from $49.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Stifel Nicolaus raised their price objective on Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Leerink Partners boosted their price objective on Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Robert W. Baird increased their target price on Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, BMO Capital Markets decreased their price target on shares of Neurogene from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th.

Institutional Investors Weigh In On Neurogene

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC purchased a new position in Neurogene during the 2nd quarter worth $55,000. BNP Paribas Financial Markets boosted its holdings in Neurogene by 192.8% during the third quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock worth $91,000 after purchasing an additional 1,429 shares during the last quarter. SG Americas Securities LLC purchased a new position in Neurogene during the first quarter worth about $120,000. MetLife Investment Management LLC bought a new stake in Neurogene in the 3rd quarter worth about $254,000. Finally, Jane Street Group LLC purchased a new stake in Neurogene in the 3rd quarter valued at about $324,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Neurogene Stock Performance

NASDAQ:NGNE opened at $34.52 on Friday. The firm has a fifty day simple moving average of $47.10 and a two-hundred day simple moving average of $40.12. Neurogene has a 12 month low of $12.49 and a 12 month high of $74.49.

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.