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

Neurogene Inc. (NASDAQ:NGNE) has been given an average recommendation of “Buy” by the nine research firms that are currently covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $60.83.

Several research analysts have recently issued reports on the company. Robert W. Baird upped their price objective on Neurogene from $54.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Leerink Partners raised their price target on shares of Neurogene from $45.00 to $72.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Stifel Nicolaus boosted their price objective on shares of Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. William Blair reiterated an “outperform” rating on shares of Neurogene in a report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and set a $55.00 price target on shares of Neurogene in a report on Tuesday.

Neurogene Stock Performance

Shares of Neurogene stock opened at $15.59 on Friday. The company’s 50 day moving average price is $45.41 and its two-hundred day moving average price is $39.62. Neurogene has a fifty-two week low of $12.49 and a fifty-two week high of $74.49.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NGNE. Quest Partners LLC purchased a new stake in Neurogene during the second quarter worth about $55,000. BNP Paribas Financial Markets raised its holdings in Neurogene by 192.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock valued at $91,000 after acquiring an additional 1,429 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Neurogene during the first quarter worth $120,000. MetLife Investment Management LLC bought a new position in shares of Neurogene in the third quarter worth $254,000. Finally, Jane Street Group LLC purchased a new position in shares of Neurogene in the third quarter valued at $324,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

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.