Neurogene (NASDAQ:NGNE) Trading Up 4.8%

Neurogene Inc. (NASDAQ:NGNE)’s stock price traded up 4.8% during trading on Wednesday . The company traded as high as $43.81 and last traded at $42.21. 24,943 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 117,235 shares. The stock had previously closed at $40.27.

Analysts Set New Price Targets

Several research firms recently commented on NGNE. Baird R W raised shares of Neurogene to a “strong-buy” rating in a report on Tuesday, June 11th. Robert W. Baird began coverage on shares of Neurogene in a report on Tuesday, June 11th. They set an “outperform” rating and a $54.00 target price on the stock. HC Wainwright reduced their target price on shares of Neurogene from $51.00 to $49.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, BMO Capital Markets started coverage on shares of Neurogene in a report on Thursday, June 27th. They set an “outperform” rating and a $65.00 target price on the stock. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Neurogene presently has an average rating of “Buy” and a consensus price target of $51.00.

Neurogene Stock Performance

The business’s 50-day moving average is $38.55 and its 200-day moving average is $37.46.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings results on Friday, August 9th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.02) by ($0.07). The company had revenue of $0.93 million for the quarter. As a group, equities analysts anticipate that Neurogene Inc. will post -4.47 earnings per share for the current year.

Institutional Trading of Neurogene

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Great Point Partners LLC bought a new stake in Neurogene during the 4th quarter valued at about $19,268,000. Vanguard Group Inc. increased its stake in Neurogene by 906.5% during the 1st quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after purchasing an additional 457,062 shares in the last quarter. Avidity Partners Management LP bought a new stake in Neurogene during the 4th quarter valued at about $9,036,000. Baker BROS. Advisors LP increased its stake in Neurogene by 0.6% during the 1st quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock valued at $23,211,000 after purchasing an additional 2,499 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its stake in Neurogene by 123.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 102,187 shares of the company’s stock valued at $3,719,000 after purchasing an additional 56,533 shares in the last quarter. 52.37% of the stock is currently 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.