Neurogene Inc. (NASDAQ:NGNE) Receives $46.17 Consensus Price Target from Brokerages

Shares of Neurogene Inc. (NASDAQ:NGNE) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $46.1667.

NGNE has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Neurogene in a research report on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and set a $45.00 price objective on shares of Neurogene in a research report on Thursday, October 9th. Finally, Craig Hallum initiated coverage on Neurogene in a research report on Tuesday, June 17th. They set a “buy” rating and a $50.00 price objective for the company.

Institutional Investors Weigh In On Neurogene

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its stake in shares of Neurogene by 2,985.1% in the first quarter. GAMMA Investing LLC now owns 4,134 shares of the company’s stock worth $48,000 after acquiring an additional 4,000 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Neurogene by 43.6% in the second quarter. PNC Financial Services Group Inc. now owns 4,055 shares of the company’s stock worth $61,000 after acquiring an additional 1,232 shares during the last quarter. Corebridge Financial Inc. grew its stake in shares of Neurogene by 13.8% in the first quarter. Corebridge Financial Inc. now owns 5,826 shares of the company’s stock worth $68,000 after acquiring an additional 705 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of Neurogene in the first quarter worth $77,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Neurogene by 17.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after acquiring an additional 1,059 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Neurogene Stock Up 4.7%

NASDAQ NGNE opened at $31.62 on Friday. The firm has a market capitalization of $451.22 million, a PE ratio of -7.34 and a beta of 1.58. The stock’s 50 day moving average is $20.28 and its 200 day moving average is $18.17. Neurogene has a twelve month low of $6.88 and a twelve month high of $74.49.

Neurogene (NASDAQ:NGNE) last posted its quarterly earnings data on Monday, August 11th. The company reported ($1.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.15) by $0.10. On average, research analysts anticipate that Neurogene will post -4.27 earnings per share for the current year.

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.