William Blair Weighs in on Neurogene Inc.’s Q1 2024 Earnings (NASDAQ:NGNE)

Neurogene Inc. (NASDAQ:NGNE) – Equities research analysts at William Blair lowered their Q1 2024 EPS estimates for shares of Neurogene in a report released on Wednesday, April 17th. William Blair analyst S. Corwin now expects that the company will post earnings per share of ($1.38) for the quarter, down from their prior forecast of ($1.12). William Blair currently has a “Outperform” rating and a $61.00 price target 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.

A number of other analysts have also recently issued reports on NGNE. Stifel Nicolaus began coverage on Neurogene in a research note on Friday, January 5th. They set a “buy” rating and a $31.00 target price for the company. TD Cowen initiated coverage on shares of Neurogene in a research report on Thursday, January 4th. They issued an “outperform” rating for the company. Finally, HC Wainwright upped their price objective 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.

Neurogene Price Performance

NASDAQ NGNE opened at $31.58 on Friday. The business’s 50 day simple moving average is $37.78. Neurogene has a 52-week low of $12.20 and a 52-week high of $53.00.

Institutional Trading of Neurogene

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. bought a new stake in Neurogene in the fourth quarter valued at approximately $977,000. Nantahala Capital Management LLC bought a new position in shares of Neurogene during the 4th quarter worth approximately $1,401,000. Great Point Partners LLC bought a new position in shares of Neurogene during the 4th quarter worth approximately $19,268,000. ADAR1 Capital Management LLC bought a new position in shares of Neurogene during the 4th quarter worth approximately $105,000. Finally, Avidity Partners Management LP bought a new position in shares of Neurogene during the 4th quarter worth approximately $9,036,000. 52.37% of the stock is currently owned by institutional investors.

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.