Neurogene (NASDAQ:NGNE) Stock Rated Overweight in New Coverage at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Neurogene (NASDAQ:NGNE) in a research report report published on Thursday morning, MarketBeat.com reports. The firm issued an overweight rating and a $60.00 price objective on the stock.

Several other equities research analysts also recently weighed in on the company. Canaccord Genuity Group decreased their price target on Neurogene from $180.00 to $166.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. William Blair raised shares of Neurogene to a “strong-buy” rating in a report on Wednesday, September 23rd. Guggenheim raised their price objective on shares of Neurogene from $69.00 to $81.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a report on Friday, July 17th. Finally, HC Wainwright dropped their target price on Neurogene from $70.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Neurogene presently has a consensus rating of “Buy” and an average target price of $80.29.

Neurogene Price Performance

NGNE stock opened at $26.40 on Thursday. The company has a fifty day moving average price of $34.09 and a 200 day moving average price of $30.87. Neurogene has a 12 month low of $15.93 and a 12 month high of $43.66. The company has a market cap of $528.26 million, a price-to-earnings ratio of -5.25 and a beta of 1.70.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($1.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.42) by ($0.11). As a group, analysts anticipate that Neurogene will post -5.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NGNE. BlackRock Inc. acquired a new position in shares of Neurogene during the 2nd quarter worth $33,274,000. Trails Edge Capital Partners LP acquired a new stake in shares of Neurogene in the second quarter valued at approximately $22,483,133. Moore Capital Management LP acquired a new stake in shares of Neurogene in the second quarter valued at approximately $4,454,000. Deutsche Bank AG purchased a new position in shares of Neurogene during the 2nd quarter worth approximately $3,354,000. Finally, Renaissance Technologies LLC lifted its stake in Neurogene by 210.0% in the 1st quarter. Renaissance Technologies LLC now owns 43,400 shares of the company’s stock valued at $875,000 after buying an additional 29,400 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Neurogene Company Profile

Neurogene Inc is a clinical-stage biotechnology company focused on developing genetic medicines for patients with rare and devastating neurological diseases. The company’s work centers on gene therapies designed to address severe neurodevelopmental and neurodegenerative disorders for which treatment options are limited.

Neurogene’s pipeline includes NGN-401, an investigational gene therapy being developed for Rett syndrome, and NGN-101, an investigational therapy targeting CLN5 disease, a form of neuronal ceroid lipofuscinosis also known as Batten disease.