Neurogene (NASDAQ:NGNE) Now Covered by Canaccord Genuity Group

Analysts at Canaccord Genuity Group initiated coverage on shares of Neurogene (NASDAQ:NGNE) in a research note issued on Friday,Benzinga reports. The firm set a “buy” rating and a $200.00 price target on the stock.

Other research analysts have also issued reports about the stock. Wall Street Zen lowered shares of Neurogene from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. HC Wainwright reissued a “buy” rating and issued a $70.00 price objective on shares of Neurogene in a research note on Tuesday, January 13th. Lifesci Capital initiated coverage on Neurogene in a report on Monday, January 26th. They issued an “outperform” rating and a $50.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a research note on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Neurogene has an average rating of “Moderate Buy” and a consensus target price of $70.00.

Neurogene Stock Up 26.4%

Shares of NASDAQ NGNE traded up $5.19 during trading on Friday, reaching $24.87. 965,523 shares of the stock were exchanged, compared to its average volume of 153,189. Neurogene has a twelve month low of $6.88 and a twelve month high of $37.27. The business’s 50-day moving average price is $18.59 and its 200 day moving average price is $21.40. The company has a market capitalization of $385.22 million, a price-to-earnings ratio of -5.99 and a beta of 1.59.

Hedge Funds Weigh In On Neurogene

Several institutional investors have recently modified their holdings of NGNE. BNP Paribas Financial Markets raised its position in shares of Neurogene by 89.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,067 shares of the company’s stock valued at $36,000 after acquiring an additional 978 shares during the period. PNC Financial Services Group Inc. increased its stake in Neurogene by 43.6% in the second quarter. PNC Financial Services Group Inc. now owns 4,055 shares of the company’s stock valued at $61,000 after purchasing an additional 1,232 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in Neurogene in the fourth quarter worth $66,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Neurogene by 17.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after purchasing an additional 1,059 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Neurogene during the fourth quarter worth $165,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

About Neurogene

Neurogene, Inc is a clinical‐stage biotechnology company specializing in the development of gene therapies for rare neurological diseases. The company’s lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene’s pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene’s proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.