Brokerages Set Neurogene Inc. (NASDAQ:NGNE) PT at $48.25

Neurogene Inc. (NASDAQ:NGNE) has earned a consensus rating of “Buy” from the six ratings firms that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a buy rating. The average 1 year price target among analysts that have issued a report on the stock in the last year is $48.25.

Several analysts recently issued reports on NGNE shares. Stifel Nicolaus initiated coverage on Neurogene in a report on Friday, January 5th. They set a “buy” rating and a $31.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $55.00 price target on shares of Neurogene in a research note on Friday. William Blair started coverage on shares of Neurogene in a report on Thursday, March 21st. They issued an “outperform” rating and a $61.00 target price on the stock. SVB Leerink began coverage on Neurogene in a research note on Monday, April 29th. They issued an “outperform” rating and a $46.00 price objective on the stock. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Neurogene in a report on Monday, April 29th.

Neurogene Stock Performance

Shares of Neurogene stock opened at $36.63 on Wednesday. The firm has a market cap of $471.43 million, a price-to-earnings ratio of -2.94 and a beta of 1.36. The company has a 50 day moving average price of $38.19. Neurogene has a 52-week low of $12.20 and a 52-week high of $53.00.

Institutional Investors Weigh In On Neurogene

A number of institutional investors have recently made changes to their positions in NGNE. Privium Fund Management UK Ltd acquired a new position in shares of Neurogene in the first quarter valued at about $274,000. BML Capital Management LLC acquired a new position in shares of Neurogene during the 4th quarter worth approximately $478,000. Avidity Partners Management LP bought a new position in shares of Neurogene during the fourth quarter worth approximately $9,036,000. Finally, Great Point Partners LLC acquired a new stake in shares of Neurogene in the fourth quarter valued at approximately $19,268,000. Institutional investors 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.