BMO Capital Markets Issues Positive Forecast for Neurogene (NASDAQ:NGNE) Stock Price

Neurogene (NASDAQ:NGNE) had its price target raised by BMO Capital Markets from $22.00 to $26.00 in a report released on Thursday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other research analysts also recently issued reports on the stock. Baird R W downgraded shares of Neurogene from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 16th. William Blair reissued an “outperform” rating on shares of Neurogene in a research report on Tuesday, March 25th. Robert W. Baird downgraded Neurogene from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $38.00 to $24.00 in a report on Friday, May 16th. Finally, HC Wainwright cut their price target on Neurogene from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.40.

Neurogene Stock Performance

NASDAQ:NGNE opened at $20.40 on Thursday. The firm has a 50-day simple moving average of $15.59 and a 200-day simple moving average of $17.64. Neurogene has a one year low of $6.88 and a one year high of $74.49. The firm has a market cap of $290.94 million, a P/E ratio of -4.69 and a beta of 1.57.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings results on Friday, May 9th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.03). On average, research analysts predict that Neurogene will post -4.27 EPS for the current fiscal year.

Insider Transactions at Neurogene

In other news, insider Stuart Cobb sold 6,797 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $15.15, for a total transaction of $102,974.55. Following the transaction, the insider now owns 20,794 shares of the company’s stock, valued at $315,029.10. This represents a 24.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.64% of the company’s stock.

Institutional Trading of Neurogene

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Neurogene by 2,985.1% during the first quarter. GAMMA Investing LLC now owns 4,134 shares of the company’s stock worth $48,000 after buying an additional 4,000 shares during the period. Corebridge Financial Inc. lifted its stake in Neurogene by 13.8% in the 1st 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. PNC Financial Services Group Inc. purchased a new stake in shares of Neurogene during the 4th quarter valued at approximately $71,000. Virtus ETF Advisers LLC raised its position in Neurogene by 45.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 3,183 shares of the company’s stock valued at $73,000 after purchasing an additional 989 shares during the period. Finally, AlphaQuest LLC acquired a new position in shares of Neurogene in the first quarter worth $77,000. 52.37% of the stock is owned by 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.