Neurogene Inc. (NASDAQ:NGNE) Receives Consensus Rating of “Buy” from Analysts

Neurogene Inc. (NASDAQ:NGNE) has been assigned an average rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued a report on the stock in the last year is $48.25.

NGNE has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price target on shares of Neurogene in a report on Friday, May 3rd. Leerink Partnrs reissued an “outperform” rating on shares of Neurogene in a research note on Monday, April 29th. SVB Leerink began coverage on shares of Neurogene in a research note on Monday, April 29th. They set an “outperform” rating and a $46.00 price objective on the stock. Finally, William Blair began coverage on shares of Neurogene in a research report on Thursday, March 21st. They issued an “outperform” rating and a $61.00 target price for the company.

Neurogene Stock Performance

Shares of NASDAQ:NGNE opened at $33.94 on Wednesday. The firm has a 50-day moving average price of $38.39. The company has a market cap of $436.81 million, a P/E ratio of -2.73 and a beta of 1.36. Neurogene has a fifty-two week low of $12.20 and a fifty-two week high of $53.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Neurogene in the 1st quarter valued at about $120,000. Privium Fund Management UK Ltd acquired a new stake in Neurogene during the first quarter valued at approximately $274,000. BML Capital Management LLC acquired a new stake in Neurogene during the fourth quarter valued at approximately $478,000. Avidity Partners Management LP bought a new stake in Neurogene during the fourth quarter worth approximately $9,036,000. Finally, Great Point Partners LLC acquired a new position in Neurogene in the fourth quarter worth approximately $19,268,000. Institutional investors own 52.37% of the company’s stock.

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.