Neurogene (NASDAQ:NGNE) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Neurogene (NASDAQ:NGNE) in a research note released on Friday, Benzinga reports. HC Wainwright currently has a $55.00 price objective on the stock.

NGNE has been the subject of several other research reports. TD Cowen initiated coverage on shares of Neurogene in a report on Thursday, January 4th. They issued an outperform rating for the company. William Blair began coverage on shares of Neurogene in a research note on Thursday, March 21st. They issued an outperform rating and a $61.00 price target on the stock. SVB Leerink assumed coverage on shares of Neurogene in a research report on Monday, April 29th. They issued an outperform rating and a $46.00 price objective for the company. Leerink Partnrs reiterated an outperform rating on shares of Neurogene in a report on Monday, April 29th. Finally, Stifel Nicolaus started coverage on Neurogene in a research note on Friday, January 5th. They issued a buy rating and a $31.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $48.25.

Neurogene Price Performance

Shares of NGNE stock traded down $3.82 on Friday, reaching $32.81. The company’s stock had a trading volume of 61,305 shares, compared to its average volume of 123,174. The stock’s fifty day simple moving average is $38.32. Neurogene has a 1 year low of $12.20 and a 1 year high of $53.00. The stock has a market capitalization of $422.26 million, a P/E ratio of -2.76 and a beta of 1.36.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Privium Fund Management UK Ltd acquired a new stake in Neurogene in the first quarter valued at approximately $274,000. BML Capital Management LLC purchased a new position in shares of Neurogene in the 4th quarter valued at approximately $478,000. Avidity Partners Management LP acquired a new stake in Neurogene in the 4th quarter worth approximately $9,036,000. Finally, Great Point Partners LLC purchased a new stake in Neurogene during the 4th quarter worth approximately $19,268,000. Institutional investors 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.