Neurogene (NASDAQ:NGNE) Earns “Outperform” Rating from William Blair

Neurogene (NASDAQ:NGNE)‘s stock had its “outperform” rating restated by William Blair in a report issued on Tuesday,RTT News reports.

Separately, HC Wainwright lowered their price target on shares of Neurogene from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Tuesday. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $59.80.

Neurogene Stock Down 0.7 %

Neurogene stock traded down $0.10 during mid-day trading on Tuesday, reaching $13.87. 79,794 shares of the company were exchanged, compared to its average volume of 208,478. The business has a fifty day moving average of $17.09 and a 200 day moving average of $29.30. Neurogene has a 12-month low of $13.47 and a 12-month high of $74.49.

Neurogene (NASDAQ:NGNE) last issued its quarterly earnings data on Monday, March 24th. The company reported ($0.99) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.05. On average, analysts forecast that Neurogene will post -4.27 earnings per share for the current fiscal year.

Insider Activity at Neurogene

In other Neurogene news, CFO Christine Mikail Cvijic sold 4,501 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $16.94, for a total transaction of $76,246.94. Following the sale, the chief financial officer now owns 72,343 shares of the company’s stock, valued at approximately $1,225,490.42. The trade was a 5.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Neurogene

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its stake in shares of Neurogene by 319.4% in the third quarter. Barclays PLC now owns 14,859 shares of the company’s stock worth $623,000 after purchasing an additional 11,316 shares during the last quarter. FMR LLC boosted its stake in shares of Neurogene by 912.4% in the third quarter. FMR LLC now owns 731,801 shares of the company’s stock worth $30,706,000 after buying an additional 659,515 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Neurogene during the third quarter worth about $296,000. State Street Corp raised its position in Neurogene by 17.5% during the third quarter. State Street Corp now owns 246,540 shares of the company’s stock valued at $10,345,000 after acquiring an additional 36,687 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Neurogene during the third quarter valued at approximately $324,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.