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

Shares of Neurogene Inc. (NASDAQ:NGNE) have earned an average rating of “Buy” from the six research firms that are presently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued a report on the stock in the last year is $47.25.

Several equities analysts recently commented on the company. Leerink Partnrs restated an “outperform” rating on shares of Neurogene in a research report on Monday, April 29th. SVB Leerink began coverage on Neurogene in a report on Monday, April 29th. They set an “outperform” rating and a $46.00 price objective for the company. HC Wainwright lowered their target price on shares of Neurogene from $55.00 to $51.00 and set a “buy” rating on the stock in a research note on Monday, May 13th. Finally, William Blair initiated coverage on shares of Neurogene in a research report on Thursday, March 21st. They set an “outperform” rating and a $61.00 target price for the company.

Institutional Trading of Neurogene

Several large investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Neurogene during the first quarter valued at approximately $120,000. Privium Fund Management UK Ltd purchased a new position in Neurogene during the 1st quarter valued at about $274,000. BML Capital Management LLC purchased a new stake in Neurogene in the fourth quarter worth about $478,000. Baker BROS. Advisors LP grew its holdings in Neurogene by 0.6% in the first quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock worth $23,211,000 after purchasing an additional 2,499 shares during the period. Finally, Avidity Partners Management LP purchased a new position in shares of Neurogene during the fourth quarter valued at approximately $9,036,000. 52.37% of the stock is owned by institutional investors.

Neurogene Trading Up 2.0 %

Shares of Neurogene stock opened at $32.11 on Friday. The stock has a 50-day moving average price of $37.58. Neurogene has a 12-month low of $12.20 and a 12-month high of $53.00.

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.