Neurogene’s (NGNE) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Neurogene (NASDAQ:NGNE) in a research report report published on Wednesday,Benzinga reports. They currently have a $65.00 price objective on the stock.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. assumed coverage on Neurogene in a research note on Thursday, October 8th. They issued an “overweight” rating and a $60.00 price target on the stock. Canaccord Genuity Group reduced their price objective on shares of Neurogene from $180.00 to $166.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Guggenheim lifted their price objective on shares of Neurogene from $69.00 to $81.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Neurogene in a research note on Thursday, October 15th. Finally, Wall Street Zen downgraded shares of Neurogene from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 10th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $80.29.

Neurogene Price Performance

NGNE stock opened at $27.55 on Wednesday. The stock has a 50-day moving average price of $30.73 and a 200-day moving average price of $27.72. Neurogene has a 1-year low of $15.93 and a 1-year high of $43.66.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings data 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, equities research analysts forecast that Neurogene will post -5.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NGNE. Mirae Asset Global Investments Co. Ltd. bought a new position in Neurogene in the third quarter worth approximately $28,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of Neurogene by 45.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 3,651 shares of the company’s stock valued at $104,000 after acquiring an additional 1,136 shares in the last quarter. Pale Fire Capital SE bought a new stake in shares of Neurogene during the second quarter valued at approximately $298,000. Moore Capital Management LP bought a new stake in shares of Neurogene during the second quarter valued at approximately $4,454,000. Finally, Wellington Management Group LLP bought a new stake in shares of Neurogene during the second quarter valued at approximately $987,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Neurogene Company Profile

Neurogene Inc (NASDAQ: NGNE) is a clinical-stage biotechnology company focused on developing genetic medicines for patients with rare neurological diseases. The company designs gene therapies intended to address the underlying genetic causes of disorders for which treatment options are limited or unavailable.

Neurogene’s lead program is NGN-401, an investigational gene therapy being developed for Rett syndrome, a rare neurodevelopmental disorder. The company is also advancing NGN-101 for CLN5 Batten disease, a form of neuronal ceroid lipofuscinosis.