Neurogene (NASDAQ:NGNE) Trading Up 4.2%

Neurogene Inc. (NASDAQ:NGNE)’s stock price was up 4.2% during trading on Thursday . The company traded as high as $43.66 and last traded at $43.49. Approximately 39,877 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 119,297 shares. The stock had previously closed at $41.75.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NGNE shares. Baird R W raised shares of Neurogene to a “strong-buy” rating in a research report on Tuesday, June 11th. HC Wainwright decreased their price target on shares of Neurogene from $51.00 to $49.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Robert W. Baird started coverage on shares of Neurogene in a research note on Tuesday, June 11th. They set an “outperform” rating and a $54.00 price target on the stock. Finally, BMO Capital Markets started coverage on shares of Neurogene in a research note on Thursday, June 27th. They set an “outperform” rating and a $65.00 price target on the stock. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $51.00.

Neurogene Stock Up 6.3 %

The company’s 50 day moving average price is $38.10 and its 200 day moving average price is $37.75.

Neurogene (NASDAQ:NGNE) last issued its earnings results on Friday, August 9th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.02) by ($0.07). The firm had revenue of $0.93 million for the quarter. Sell-side analysts expect that Neurogene Inc. will post -4.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quest Partners LLC bought a new stake in Neurogene during the 2nd quarter worth about $55,000. SG Americas Securities LLC bought a new stake in Neurogene during the 1st quarter worth about $120,000. Privium Fund Management UK Ltd bought a new stake in Neurogene during the 1st quarter worth about $274,000. Rhumbline Advisers bought a new stake in shares of Neurogene in the 2nd quarter valued at about $491,000. Finally, Avoro Capital Advisors LLC acquired a new position in shares of Neurogene in the 2nd quarter valued at approximately $802,000. 52.37% of the stock is owned by institutional investors.

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.