SVB Leerink Begins Coverage on Neurogene (NASDAQ:NGNE)

SVB Leerink initiated coverage on shares of Neurogene (NASDAQ:NGNE) in a research report report published on Monday, MarketBeat reports. The firm issued an outperform rating and a $46.00 target price on the stock.

Several other equities analysts have also commented on the stock. Stifel Nicolaus initiated coverage on shares of Neurogene in a research report on Friday, January 5th. They set a buy rating and a $31.00 price objective for the company. TD Cowen initiated coverage on shares of Neurogene in a report on Thursday, January 4th. They set an outperform rating on the stock. HC Wainwright increased their target price on Neurogene from $45.00 to $55.00 and gave the stock a buy rating in a research note on Tuesday, March 19th. Finally, William Blair assumed coverage on shares of Neurogene in a research note on Thursday, March 21st. They set an outperform rating and a $61.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $48.25.

Neurogene Stock Performance

Shares of NGNE stock opened at $33.77 on Monday. The business has a fifty day moving average of $38.08. Neurogene has a 52 week low of $12.20 and a 52 week high of $53.00. The stock has a market cap of $434.48 million, a PE ratio of -2.71 and a beta of 1.26.

Institutional Investors Weigh In On Neurogene

Hedge funds have recently made changes to their positions in the stock. Privium Fund Management UK Ltd bought a new position in Neurogene in the first quarter worth about $274,000. Great Point Partners LLC bought a new position in shares of Neurogene during the 4th quarter worth approximately $19,268,000. Avidity Partners Management LP purchased a new stake in Neurogene during the fourth quarter valued at approximately $9,036,000. Finally, BML Capital Management LLC acquired a new stake in Neurogene in the fourth quarter valued at approximately $478,000. 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.