Neurogene (NASDAQ:NGNE) Given New $70.00 Price Target at HC Wainwright

Neurogene (NASDAQ:NGNE) had its price objective lifted by equities research analysts at HC Wainwright from $65.00 to $70.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 125.23% from the stock’s previous close.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $42.50.

Neurogene Price Performance

Shares of NASDAQ NGNE opened at $31.08 on Thursday. Neurogene has a one year low of $6.88 and a one year high of $43.24. The business’s 50-day moving average price is $25.08 and its two-hundred day moving average price is $21.27. The company has a market capitalization of $443.57 million, a P/E ratio of -7.21 and a beta of 1.64.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data on Monday, August 11th. The company reported ($1.05) earnings per share for the quarter, beating the consensus estimate of ($1.15) by $0.10. On average, equities analysts anticipate that Neurogene will post -4.27 EPS for the current year.

Hedge Funds Weigh In On Neurogene

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in shares of Neurogene by 43.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,055 shares of the company’s stock valued at $61,000 after acquiring an additional 1,232 shares in the last quarter. Corebridge Financial Inc. raised its stake in Neurogene by 13.8% during the first quarter. Corebridge Financial Inc. now owns 5,826 shares of the company’s stock worth $68,000 after acquiring an additional 705 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Neurogene during the first quarter valued at $77,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Neurogene by 17.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock valued at $82,000 after purchasing an additional 1,059 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Neurogene by 9.1% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 11,231 shares of the company’s stock worth $132,000 after purchasing an additional 941 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

About Neurogene

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.