Neurogene (NASDAQ:NGNE) Coverage Initiated at Canaccord Genuity Group

Research analysts at Canaccord Genuity Group assumed coverage on shares of Neurogene (NASDAQ:NGNE) in a research note issued on Friday, MarketBeat reports. The firm set a “buy” rating on the stock.

Several other equities analysts have also recently weighed in on the company. Lifesci Capital initiated coverage on Neurogene in a research report on Monday, January 26th. They issued an “outperform” rating and a $50.00 price target for the company. Wall Street Zen downgraded Neurogene from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neurogene in a research report on Thursday, January 22nd. Finally, HC Wainwright reissued a “buy” rating and issued a $70.00 price target on shares of Neurogene in a report on Tuesday, January 13th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Neurogene Trading Up 19.4%

Shares of NGNE stock opened at $23.49 on Friday. The firm’s 50 day moving average is $18.65 and its 200 day moving average is $21.43. The stock has a market capitalization of $363.86 million, a P/E ratio of -5.72 and a beta of 1.59. Neurogene has a 12 month low of $6.88 and a 12 month high of $37.27.

Hedge Funds Weigh In On Neurogene

A number of hedge funds and other institutional investors have recently bought and sold shares of NGNE. Virtus Investment Advisers LLC grew its position in Neurogene by 128.0% in the fourth quarter. Virtus Investment Advisers LLC now owns 12,716 shares of the company’s stock worth $262,000 after acquiring an additional 7,138 shares in the last quarter. Logos Global Management LP purchased a new stake in Neurogene during the fourth quarter valued at about $4,017,000. Schonfeld Strategic Advisors LLC bought a new stake in Neurogene during the fourth quarter worth about $575,000. Trexquant Investment LP boosted its holdings in shares of Neurogene by 9.7% in the 4th quarter. Trexquant Investment LP now owns 43,323 shares of the company’s stock worth $892,000 after purchasing an additional 3,840 shares in the last quarter. Finally, Blair William & Co. IL lifted its position in Neurogene by 15.4% in the 4th quarter. Blair William & Co. IL now owns 163,655 shares of the company’s stock worth $3,371,000 after buying an additional 21,835 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

About Neurogene

Neurogene, Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company’s lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene’s pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene’s proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.