Neurogene (NASDAQ:NGNE) Trading Up 6.1%

Shares of Neurogene Inc. (NASDAQ:NGNE) were up 6.1% during mid-day trading on Monday . The stock traded as high as $44.85 and last traded at $44.84. Approximately 2,057 shares traded hands during trading, a decline of 98% from the average daily volume of 122,721 shares. The stock had previously closed at $42.26.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Leerink Partnrs restated an “outperform” rating on shares of Neurogene in a report on Monday, April 29th. Robert W. Baird started coverage on Neurogene in a research note on Tuesday, June 11th. They set an “outperform” rating and a $54.00 price objective for the company. SVB Leerink started coverage on Neurogene in a research note on Monday, April 29th. They issued an “outperform” rating and a $46.00 target price on the stock. Baird R W raised shares of Neurogene to a “strong-buy” rating in a research report on Tuesday, June 11th. Finally, BMO Capital Markets initiated coverage on shares of Neurogene in a research report on Thursday, June 27th. They issued an “outperform” rating and a $65.00 price objective on the stock. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Neurogene currently has an average rating of “Buy” and a consensus price target of $51.33.

Neurogene Stock Down 0.7 %

The firm has a fifty day simple moving average of $36.86 and a two-hundred day simple moving average of $35.53.

Neurogene (NASDAQ:NGNE) last released its earnings results on Friday, May 10th. The company reported ($1.00) EPS for the quarter, topping analysts’ consensus estimates of ($1.03) by $0.03. Sell-side analysts forecast that Neurogene Inc. will post -4.15 EPS for the current year.

Institutional Investors Weigh In On Neurogene

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Great Point Partners LLC purchased a new position in Neurogene in the 4th quarter worth $19,268,000. Avidity Partners Management LP purchased a new position in shares of Neurogene in the fourth quarter worth about $9,036,000. Vanguard Group Inc. lifted its holdings in shares of 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. BML Capital Management LLC purchased a new stake in Neurogene in the fourth quarter valued at approximately $478,000. Finally, Privium Fund Management UK Ltd acquired a new position in Neurogene in the 1st quarter worth approximately $274,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.