Shares of Neurogene Inc. (NASDAQ:NGNE – Get Free Report) rose 5.5% on Tuesday. The company traded as high as $24.96 and last traded at $25.51. 7,035 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 212,810 shares. The stock had previously closed at $24.17.
Wall Street Analyst Weigh In
Several research firms recently weighed in on NGNE. Guggenheim boosted their target price on Neurogene from $69.00 to $81.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Canaccord Genuity Group lowered their price target on Neurogene from $180.00 to $166.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Wall Street Zen downgraded Neurogene from a “sell” rating to a “strong sell” rating in a report on Saturday, October 10th. William Blair raised shares of Neurogene to a “strong-buy” rating in a research report on Wednesday, September 23rd. Finally, HC Wainwright reduced their price objective on shares of Neurogene from $70.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $80.29.
Get Our Latest Report on Neurogene
Neurogene Stock Performance
The stock has a market cap of $511.26 million, a price-to-earnings ratio of -5.08 and a beta of 1.70. The stock’s 50-day simple moving average is $32.66 and its two-hundred day simple moving average is $31.06.
Neurogene (NASDAQ:NGNE – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.42) by ($0.11). As a group, research analysts predict that Neurogene Inc. will post -5.88 earnings per share for the current year.
Hedge Funds Weigh In On Neurogene
Several large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Neurogene during the 2nd quarter valued at approximately $33,274,000. Trails Edge Capital Partners LP acquired a new stake in Neurogene in the 2nd quarter valued at approximately $22,483,133. Moore Capital Management LP acquired a new stake in Neurogene in the 2nd quarter valued at approximately $4,454,000. Deutsche Bank AG bought a new position in Neurogene in the 2nd quarter worth approximately $3,354,000. Finally, Renaissance Technologies LLC increased its position in Neurogene by 210.0% in the 1st quarter. Renaissance Technologies LLC now owns 43,400 shares of the company’s stock worth $875,000 after buying an additional 29,400 shares during the period. Institutional investors and hedge funds own 52.37% of the company’s stock.
Neurogene Company Profile
Neurogene Inc is a clinical-stage biotechnology company focused on developing genetic medicines for patients with rare and devastating neurological diseases. The company’s work centers on gene therapies designed to address severe neurodevelopmental and neurodegenerative disorders for which treatment options are limited.
Neurogene’s pipeline includes NGN-401, an investigational gene therapy being developed for Rett syndrome, and NGN-101, an investigational therapy targeting CLN5 disease, a form of neuronal ceroid lipofuscinosis also known as Batten disease.
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