Neurogene Inc. (NASDAQ:NGNE) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Neurogene Inc. (NASDAQ:NGNE) have earned a consensus recommendation of “Buy” from the nine research firms that are currently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $60.83.

Several equities research analysts recently issued reports on NGNE shares. BMO Capital Markets decreased their price target on shares of Neurogene from $60.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday. Leerink Partners boosted their target price on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. William Blair reissued an “outperform” rating on shares of Neurogene in a report on Tuesday, November 19th. Stifel Nicolaus boosted their target price on shares of Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Neurogene in a research note on Tuesday, November 19th.

Neurogene Stock Up 30.2 %

Shares of Neurogene stock opened at $20.30 on Friday. The firm’s 50 day moving average is $44.97 and its 200 day moving average is $39.57. Neurogene has a 1 year low of $12.49 and a 1 year high of $74.49.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its position in Neurogene by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 30,317 shares of the company’s stock valued at $1,272,000 after acquiring an additional 741 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Neurogene by 192.8% in the third quarter. BNP Paribas Financial Markets now owns 2,170 shares of the company’s stock worth $91,000 after purchasing an additional 1,429 shares during the last quarter. Quest Partners LLC bought a new position in shares of Neurogene in the second quarter valued at approximately $55,000. SG Americas Securities LLC purchased a new position in shares of Neurogene during the first quarter valued at approximately $120,000. Finally, Baker BROS. Advisors LP grew its holdings in Neurogene by 0.6% during the first quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock worth $23,211,000 after buying an additional 2,499 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.