Neurogene Inc. (NASDAQ:NGNE) Receives $48.25 Average Price Target from Brokerages

Neurogene Inc. (NASDAQ:NGNE) has received an average recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $48.25.

Several brokerages have recently weighed in on NGNE. Leerink Partnrs restated an “outperform” rating on shares of Neurogene in a report on Monday, April 29th. William Blair started coverage on shares of Neurogene in a report on Thursday, March 21st. They issued an “outperform” rating and a $61.00 price target for the company. SVB Leerink began coverage on shares of Neurogene in a research note on Monday, April 29th. They issued an “outperform” rating and a $46.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of Neurogene in a report on Friday.

Institutional Investors Weigh In On Neurogene

Several hedge funds have recently modified their holdings of NGNE. Privium Fund Management UK Ltd purchased a new position in Neurogene in the 1st quarter worth about $274,000. BML Capital Management LLC acquired a new position in shares of Neurogene in the fourth quarter worth about $478,000. Avidity Partners Management LP purchased a new position in shares of Neurogene in the fourth quarter worth approximately $9,036,000. Finally, Great Point Partners LLC acquired a new stake in shares of Neurogene during the fourth quarter valued at approximately $19,268,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Neurogene Price Performance

NGNE opened at $36.63 on Wednesday. Neurogene has a 1-year low of $12.20 and a 1-year high of $53.00. The firm has a market capitalization of $471.43 million, a P/E ratio of -2.94 and a beta of 1.36. The business has a 50 day moving average price of $38.32.

About Neurogene

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.