Neurogene (NASDAQ:NGNE) Stock Price Up 4.5%

Neurogene Inc. (NASDAQ:NGNEGet Free Report) traded up 4.5% during trading on Thursday . The stock traded as high as $38.85 and last traded at $38.85. 75,326 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 108,581 shares. The stock had previously closed at $37.18.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. SVB Leerink initiated coverage on shares of Neurogene in a research note on Monday, April 29th. They issued an “outperform” rating and a $46.00 price objective for the company. William Blair initiated coverage on shares of Neurogene in a research report on Thursday, March 21st. They set an “outperform” rating and a $61.00 target price for the company. HC Wainwright restated a “buy” rating and set a $51.00 target price on shares of Neurogene in a research report on Tuesday, June 4th. Leerink Partnrs restated an “outperform” rating on shares of Neurogene in a research report on Monday, April 29th. Finally, Robert W. Baird initiated coverage on shares of Neurogene in a research report on Tuesday. They set an “outperform” rating and a $54.00 target price for the company. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $48.60.

Check Out Our Latest Stock Report on NGNE

Neurogene Stock Performance

The firm’s 50-day moving average is $34.72.

Neurogene (NASDAQ:NGNEGet Free Report) last posted its quarterly earnings data on Friday, May 10th. The company reported ($1.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.03) by $0.03. Research analysts anticipate that Neurogene Inc. will post -4.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Neurogene

A number of institutional investors have recently modified their holdings of NGNE. BML Capital Management LLC acquired a new position in shares of Neurogene in the fourth quarter valued at approximately $478,000. Avidity Partners Management LP purchased a new stake in Neurogene in the fourth quarter valued at approximately $9,036,000. Great Point Partners LLC purchased a new stake in Neurogene in the fourth quarter valued at approximately $19,268,000. Privium Fund Management UK Ltd purchased a new stake in Neurogene in the first quarter valued at approximately $274,000. Finally, SG Americas Securities LLC purchased a new stake in Neurogene in the first quarter valued at approximately $120,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

About Neurogene

(Get Free Report)

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.

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