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

Neurogene Inc. (NASDAQ:NGNE) has been assigned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the company, 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 1-year price target among brokers that have issued ratings on the stock in the last year is $60.83.

Several equities analysts have commented on the stock. HC Wainwright reissued a “buy” rating and set a $55.00 target price on shares of Neurogene in a research report on Tuesday, November 19th. 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. Stifel Nicolaus lifted their target price on shares of Neurogene from $44.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird lifted their target price on shares of Neurogene from $54.00 to $72.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, William Blair reissued an “outperform” rating on shares of Neurogene in a research report on Tuesday, November 19th.

Neurogene Price Performance

Neurogene stock opened at $20.30 on Friday. Neurogene has a 52 week low of $12.49 and a 52 week high of $74.49. The company’s 50 day moving average price is $44.97 and its two-hundred day moving average price is $39.57.

Hedge Funds Weigh In On Neurogene

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC grew its holdings in Neurogene by 319.4% during the third quarter. Barclays PLC now owns 14,859 shares of the company’s stock valued at $623,000 after purchasing an additional 11,316 shares during the period. Jane Street Group LLC bought a new position in Neurogene during the third quarter valued at $324,000. Wellington Management Group LLP bought a new position in Neurogene during the third quarter valued at $767,000. State Street Corp grew its holdings in Neurogene by 17.5% during 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 during the period. Finally, RTW Investments LP grew its holdings in Neurogene by 6.0% during the third quarter. RTW Investments LP now owns 1,135,256 shares of the company’s stock valued at $47,635,000 after purchasing an additional 64,691 shares during the period. 52.37% of the stock is owned by institutional investors.

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.