Neurogene Inc. (NASDAQ:NGNE) Forecasted to Post Q1 2024 Earnings of ($1.38) Per Share

Neurogene Inc. (NASDAQ:NGNE) – William Blair dropped their Q1 2024 earnings estimates for Neurogene in a research note issued to investors on Wednesday, April 17th. William Blair analyst S. Corwin now anticipates that the company will post earnings of ($1.38) per share for the quarter, down from their prior estimate of ($1.12). William Blair has a “Outperform” rating and a $61.00 price objective on the stock. The consensus estimate for Neurogene’s current full-year earnings is ($6.77) per share. William Blair also issued estimates for Neurogene’s FY2024 earnings at ($4.61) EPS and FY2025 earnings at ($3.23) EPS.

Other equities analysts have also recently issued research reports about the stock. TD Cowen started coverage on shares of Neurogene in a research report on Thursday, January 4th. They set an “outperform” rating for the company. HC Wainwright lifted their target price on shares of Neurogene from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, Stifel Nicolaus started coverage on shares of Neurogene in a research report on Friday, January 5th. They issued a “buy” rating and a $31.00 price objective for the company.

Neurogene Trading Down 3.5 %

Shares of NGNE opened at $30.49 on Friday. The firm has a market capitalization of $391.80 million, a PE ratio of -2.45 and a beta of 1.26. The business’s 50-day simple moving average is $37.77. Neurogene has a 12-month low of $12.20 and a 12-month high of $53.00.

Hedge Funds Weigh In On Neurogene

Institutional investors have recently modified their holdings of the company. BML Capital Management LLC acquired a new position in Neurogene during the fourth quarter worth approximately $478,000. US Bancorp DE acquired a new position in Neurogene during the fourth quarter worth approximately $67,000. Avidity Partners Management LP acquired a new position in Neurogene during the fourth quarter worth approximately $9,036,000. ADAR1 Capital Management LLC acquired a new position in Neurogene during the fourth quarter worth approximately $105,000. Finally, Great Point Partners LLC acquired a new position in Neurogene during the fourth quarter worth approximately $19,268,000. 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.