Analysts Set Neurogene Inc. (NASDAQ:NGNE) PT at $46.17

Shares of Neurogene Inc. (NASDAQ:NGNE) have been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $46.17.

Several research firms recently commented on NGNE. Baird R W cut Neurogene from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 16th. Robert W. Baird downgraded Neurogene from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $38.00 to $24.00 in a report on Friday, May 16th. HC Wainwright lowered their target price on Neurogene from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. BMO Capital Markets reissued an “outperform” rating and issued a $26.00 target price (up previously from $22.00) on shares of Neurogene in a report on Thursday, June 12th. Finally, Craig Hallum initiated coverage on Neurogene in a report on Tuesday, June 17th. They issued a “buy” rating and a $50.00 target price on the stock.

Insider Activity at Neurogene

In other news, insider Stuart Cobb sold 6,797 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $15.15, for a total value of $102,974.55. Following the transaction, the insider owned 20,794 shares of the company’s stock, valued at $315,029.10. This trade represents a 24.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Two Sigma Investments LP bought a new position in shares of Neurogene in the fourth quarter worth about $472,000. Wellington Management Group LLP raised its stake in shares of Neurogene by 18.7% in the fourth quarter. Wellington Management Group LLP now owns 21,717 shares of the company’s stock worth $496,000 after buying an additional 3,427 shares during the period. GAMMA Investing LLC raised its stake in shares of Neurogene by 2,985.1% in the first quarter. GAMMA Investing LLC now owns 4,134 shares of the company’s stock worth $48,000 after buying an additional 4,000 shares during the period. Vestal Point Capital LP bought a new position in shares of Neurogene in the fourth quarter worth about $1,829,000. Finally, Mariner LLC bought a new position in shares of Neurogene in the fourth quarter worth about $239,000. Institutional investors own 52.37% of the company’s stock.

Neurogene Price Performance

Neurogene stock opened at $21.87 on Monday. Neurogene has a one year low of $6.88 and a one year high of $74.49. The stock has a market capitalization of $311.87 million, a PE ratio of -5.03 and a beta of 1.51. The business’s fifty day moving average is $19.86 and its 200 day moving average is $16.92.

Neurogene (NASDAQ:NGNE) last released its quarterly earnings data on Friday, May 9th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($1.05) by ($0.03). As a group, sell-side analysts expect that Neurogene will post -4.27 EPS for the current fiscal year.

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.