Neurogene (NASDAQ:NGNE) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Neurogene (NASDAQ:NGNE) from a sell rating to a hold rating in a research report released on Saturday.

Several other equities analysts have also recently commented on the stock. HC Wainwright upped their target price on shares of Neurogene from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday. Weiss Ratings restated 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $42.50.

Neurogene Stock Down 14.0%

Shares of NASDAQ:NGNE opened at $22.77 on Friday. The company has a market cap of $324.97 million, a price-to-earnings ratio of -5.28 and a beta of 1.64. The business has a 50 day moving average price of $25.27 and a 200 day moving average price of $21.42. Neurogene has a twelve month low of $6.88 and a twelve month high of $39.20.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.99) EPS for the quarter, topping the consensus estimate of ($1.26) by $0.27. Analysts anticipate that Neurogene will post -4.27 EPS for the current year.

Hedge Funds Weigh In On Neurogene

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position in shares of Neurogene by 89.8% during 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 in the last quarter. PNC Financial Services Group Inc. lifted its stake in Neurogene by 43.6% during the second quarter. PNC Financial Services Group Inc. now owns 4,055 shares of the company’s stock worth $61,000 after purchasing an additional 1,232 shares during the period. Corebridge Financial Inc. lifted 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 purchasing an additional 705 shares during the period. AlphaQuest LLC acquired a new stake in Neurogene during the first quarter valued at approximately $77,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew 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 during the period. 52.37% of the stock is 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.