Neurogene (NASDAQ:NGNE) Receives Outperform Rating from William Blair

William Blair reiterated their outperform rating on shares of Neurogene (NASDAQ:NGNE) in a research note released on Tuesday,RTT News reports.

Separately, HC Wainwright lowered their price target on Neurogene from $55.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $59.80.

Neurogene Stock Performance

Shares of NASDAQ NGNE opened at $14.20 on Tuesday. Neurogene has a 52-week low of $13.47 and a 52-week high of $74.49. The firm has a 50 day moving average price of $17.01 and a 200 day moving average price of $29.15.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings results on Monday, March 24th. The company reported ($0.99) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.05. The firm had revenue of $0.93 million for the quarter. On average, sell-side analysts forecast that Neurogene will post -4.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Christine Mikail Cvijic sold 4,501 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $16.94, for a total value of $76,246.94. Following the sale, the chief financial officer now directly owns 72,343 shares in the company, valued at $1,225,490.42. The trade was a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 9.92% of the company’s stock.

Institutional Investors Weigh In On Neurogene

Several institutional investors have recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Neurogene by 319.4% during the 3rd quarter. Barclays PLC now owns 14,859 shares of the company’s stock worth $623,000 after acquiring an additional 11,316 shares in the last quarter. FMR LLC lifted its position in shares of Neurogene by 912.4% in the third quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after purchasing an additional 659,515 shares in the last quarter. Franklin Resources Inc. acquired a new position in Neurogene during the third quarter worth $296,000. State Street Corp grew its position in Neurogene by 17.5% in the third quarter. State Street Corp now owns 246,540 shares of the company’s stock valued at $10,345,000 after purchasing an additional 36,687 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Neurogene in the 3rd quarter valued at $324,000. Institutional investors own 52.37% of the company’s stock.

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.