Brokerages Set Neurogene Inc. (NASDAQ:NGNE) Price Target at $51.00

Neurogene Inc. (NASDAQ:NGNE) has earned an average recommendation of “Buy” from the nine analysts that are currently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $51.00.

Separately, HC Wainwright cut their price objective 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.

Neurogene Stock Up 0.4 %

Shares of NASDAQ NGNE opened at $48.37 on Wednesday. The business has a 50-day moving average of $42.11 and a two-hundred day moving average of $38.22. Neurogene has a 1 year low of $12.49 and a 1 year high of $55.21.

Neurogene (NASDAQ:NGNE) last issued its earnings results on Friday, August 9th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.02) by ($0.07). The firm had revenue of $0.93 million during the quarter. Equities research analysts anticipate that Neurogene will post -4.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NGNE. Quest Partners LLC acquired a new stake in shares of Neurogene in the second quarter valued at approximately $55,000. SG Americas Securities LLC purchased a new stake in Neurogene in the 1st quarter valued at $120,000. Rhumbline Advisers acquired a new stake in Neurogene during the 2nd quarter worth $491,000. Avoro Capital Advisors LLC purchased a new position in Neurogene during the 2nd quarter worth $802,000. Finally, Bank of New York Mellon Corp acquired a new position in Neurogene in the second quarter valued at $1,107,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

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.