Neurogene (NASDAQ:NGNE) Cut to Sell at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Neurogene (NASDAQ:NGNE – Free Report) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Several other research firms have also issued reports on NGNE. HC Wainwright lifted their price target on shares of Neurogene from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Neurogene in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $42.50.

Check Out Our Latest Research Report on Neurogene

Neurogene Trading Down 3.2%

Shares of Neurogene stock opened at $20.26 on Friday. Neurogene has a 52 week low of $6.88 and a 52 week high of $37.27. The stock has a market cap of $313.83 million, a PE ratio of -4.93 and a beta of 1.63. The company’s 50-day moving average price is $26.15 and its two-hundred day moving average price is $22.05.

Neurogene (NASDAQ:NGNE – Get Free Report) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.99) earnings per share for the quarter, beating the consensus estimate of ($1.26) by $0.27. On average, equities analysts predict that Neurogene will post -4.27 EPS for the current fiscal year.

Institutional Trading of Neurogene

A number of hedge funds have recently modified their holdings of the business. Baker BROS. Advisors LP grew its holdings in shares of Neurogene by 120.4% during the first quarter. Baker BROS. Advisors LP now owns 1,486,200 shares of the company’s stock valued at $17,403,000 after buying an additional 811,750 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Neurogene during the 3rd quarter worth about $12,114,000. Jennison Associates LLC grew its stake in Neurogene by 55.0% during the 2nd quarter. Jennison Associates LLC now owns 167,563 shares of the company’s stock valued at $2,505,000 after acquiring an additional 59,479 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Neurogene by 81.6% in the 2nd quarter. Bank of America Corp DE now owns 95,401 shares of the company’s stock valued at $1,426,000 after purchasing an additional 42,880 shares during the period. Finally, Schroder Investment Management Group acquired a new position in shares of Neurogene in the 2nd quarter valued at about $451,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

About Neurogene

(Get Free Report)

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.

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