Neurogene Inc. (NASDAQ:NGNE) Given Average Rating of “Moderate Buy” by Analysts

Neurogene Inc. (NASDAQ:NGNE) has been given an average recommendation of “Moderate Buy” by the seven ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $45.40.

A number of brokerages have recently weighed in on NGNE. William Blair reissued an “outperform” rating on shares of Neurogene in a research report on Tuesday, March 25th. Robert W. Baird downgraded Neurogene from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $38.00 to $24.00 in a research note on Friday, May 16th. Baird R W cut Neurogene from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 16th. BMO Capital Markets increased their price target on Neurogene from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, HC Wainwright cut their price objective on Neurogene from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th.

Insiders Place Their Bets

In related news, insider Stuart Cobb sold 6,797 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $15.15, for a total transaction of $102,974.55. Following the sale, the insider now owns 20,794 shares in the company, valued at $315,029.10. The trade was a 24.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 11.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Samsara BioCapital LLC boosted its stake in Neurogene by 35.4% during the fourth quarter. Samsara BioCapital LLC now owns 1,717,127 shares of the company’s stock worth $39,254,000 after acquiring an additional 449,337 shares in the last quarter. Baker BROS. Advisors LP raised its holdings in shares of Neurogene by 120.4% during the first quarter. Baker BROS. Advisors LP now owns 1,486,200 shares of the company’s stock valued at $17,403,000 after purchasing an additional 811,750 shares during the period. RTW Investments LP boosted its position in shares of Neurogene by 18.9% during the 4th quarter. RTW Investments LP now owns 1,350,256 shares of the company’s stock worth $30,867,000 after purchasing an additional 215,000 shares in the last quarter. Redmile Group LLC grew its stake in shares of Neurogene by 36.9% in the 4th quarter. Redmile Group LLC now owns 1,319,763 shares of the company’s stock valued at $30,170,000 after buying an additional 355,416 shares during the period. Finally, Casdin Capital LLC increased its position in Neurogene by 146.9% in the 4th quarter. Casdin Capital LLC now owns 1,295,361 shares of the company’s stock valued at $29,612,000 after buying an additional 770,745 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Neurogene Stock Performance

Shares of NASDAQ:NGNE opened at $20.40 on Friday. The company’s fifty day moving average is $15.59 and its 200-day moving average is $17.64. Neurogene has a 52 week low of $6.88 and a 52 week high of $74.49. The company has a market capitalization of $290.94 million, a PE ratio of -4.69 and a beta of 1.57.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings results on Friday, May 9th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by ($0.03). On average, analysts forecast that Neurogene will post -4.27 EPS for the current year.

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.