Neurogene (NASDAQ:NGNE) Lowered to Sell Rating by Wall Street Zen

Neurogene (NASDAQ:NGNE) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other equities analysts also recently commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a research note on Wednesday, October 8th. HC Wainwright upped their target price on Neurogene from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $42.50.

Neurogene Stock Down 1.6%

Shares of NGNE opened at $20.92 on Friday. Neurogene has a twelve month low of $6.88 and a twelve month high of $37.27. The stock has a market capitalization of $324.05 million, a P/E ratio of -5.09 and a beta of 1.62. The company has a 50 day moving average of $26.20 and a 200-day moving average of $21.97.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.99) EPS for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.27. On average, sell-side analysts anticipate that Neurogene will post -4.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Neurogene

Several hedge funds have recently bought and sold shares of NGNE. Brevan Howard Capital Management LP acquired a new position in Neurogene during the third quarter worth approximately $223,000. ArrowMark Colorado Holdings LLC lifted its position in shares of Neurogene by 1.8% in the third quarter. ArrowMark Colorado Holdings LLC now owns 595,839 shares of the company’s stock valued at $10,326,000 after buying an additional 10,442 shares during the last quarter. ADAR1 Capital Management LLC boosted its stake in shares of Neurogene by 3.4% during the 3rd quarter. ADAR1 Capital Management LLC now owns 30,633 shares of the company’s stock worth $531,000 after acquiring an additional 1,008 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Neurogene during the 3rd quarter worth approximately $12,114,000. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Neurogene during the 3rd quarter worth approximately $187,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.