Neurogene Inc. (NASDAQ:NGNE) Given Average Recommendation of “Buy” by Analysts

Shares of Neurogene Inc. (NASDAQ:NGNE) have been assigned a consensus rating of “Buy” from the nine brokerages that are covering the stock, MarketBeat reports. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $63.33.

A number of analysts have recently commented on NGNE shares. Stifel Nicolaus lifted their price target on Neurogene from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Leerink Partners lifted their target price on shares of Neurogene from $45.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their target price on shares of Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. BMO Capital Markets dropped their price target on shares of Neurogene from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Finally, HC Wainwright lifted their price target on shares of Neurogene from $49.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th.

Hedge Funds Weigh In On Neurogene

A number of hedge funds have recently bought and sold shares of NGNE. Driehaus Capital Management LLC boosted its position in Neurogene by 123.8% during the second quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock valued at $3,719,000 after acquiring an additional 56,533 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Neurogene during the 2nd quarter valued at about $1,107,000. Vanguard Group Inc. grew its stake in Neurogene by 906.5% during the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock worth $25,831,000 after purchasing an additional 457,062 shares during the period. Marshall Wace LLP grew its stake in Neurogene by 37.2% during the second quarter. Marshall Wace LLP now owns 41,447 shares of the company’s stock worth $1,508,000 after purchasing an additional 11,229 shares during the period. Finally, Integral Health Asset Management LLC bought a new stake in Neurogene in the second quarter worth approximately $2,547,000. Institutional investors own 52.37% of the company’s stock.

Neurogene Price Performance

NASDAQ NGNE opened at $34.52 on Friday. Neurogene has a twelve month low of $12.49 and a twelve month high of $74.49. The business’s fifty day moving average is $47.10 and its 200 day moving average is $40.12.

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.