Neurogene (NASDAQ:NGNE) Now Covered by BMO Capital Markets

BMO Capital Markets initiated coverage on shares of Neurogene (NASDAQ:NGNE) in a report released on Thursday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $65.00 price target on the stock.

Several other research analysts also recently weighed in on the stock. Robert W. Baird assumed coverage on shares of Neurogene in a research report on Tuesday, June 11th. They issued an outperform rating and a $54.00 target price on the stock. Baird R W raised shares of Neurogene to a strong-buy rating in a research report on Tuesday, June 11th. Leerink Partnrs reissued an outperform rating on shares of Neurogene in a research report on Monday, April 29th. SVB Leerink assumed coverage on shares of Neurogene in a report on Monday, April 29th. They set an outperform rating and a $46.00 price target for the company. Finally, HC Wainwright restated a buy rating and set a $51.00 price target on shares of Neurogene in a report on Thursday, June 20th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average price target of $51.33.

Neurogene Stock Performance

Shares of NGNE opened at $36.39 on Thursday. The stock has a 50 day simple moving average of $33.95. Neurogene has a 12-month low of $12.20 and a 12-month high of $53.00.

Neurogene (NASDAQ:NGNE) last announced its quarterly earnings data on Friday, May 10th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.03) by $0.03. As a group, research analysts forecast that Neurogene will post -4.15 EPS for the current fiscal year.

Institutional Trading of Neurogene

A number of institutional investors have recently added to or reduced their stakes in the business. Baker BROS. Advisors LP lifted its stake in Neurogene by 0.6% in the first quarter. Baker BROS. Advisors LP now owns 456,015 shares of the company’s stock valued at $23,211,000 after acquiring an additional 2,499 shares during the last quarter. Vanguard Group Inc. lifted its stake in Neurogene by 906.5% in the first quarter. Vanguard Group Inc. now owns 507,483 shares of the company’s stock valued at $25,831,000 after acquiring an additional 457,062 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Neurogene in the first quarter valued at approximately $120,000. Privium Fund Management UK Ltd acquired a new stake in Neurogene in the first quarter valued at approximately $274,000. Finally, Great Point Partners LLC bought a new position in shares of Neurogene in the fourth quarter valued at approximately $19,268,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.