William Blair Reiterates “Outperform” Rating for Neurogene (NASDAQ:NGNE)

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

Separately, HC Wainwright lowered their price objective on Neurogene from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $59.80.

Neurogene Trading Down 0.7 %

NGNE traded down $0.10 during trading hours on Tuesday, hitting $13.87. The company’s stock had a trading volume of 79,794 shares, compared to its average volume of 208,478. Neurogene has a 12 month low of $13.47 and a 12 month high of $74.49. The business’s 50-day moving average price is $17.09 and its 200-day moving average price is $29.30.

Neurogene (NASDAQ:NGNE) last announced its earnings results on Monday, March 24th. The company reported ($0.99) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.05. Sell-side analysts expect that Neurogene will post -4.27 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Christine Mikail Cvijic sold 4,501 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.92% of the company’s stock.

Hedge Funds Weigh In On Neurogene

Institutional investors have recently modified their holdings of the stock. Casdin Capital LLC grew its stake in Neurogene by 146.9% in the fourth quarter. Casdin Capital LLC now owns 1,295,361 shares of the company’s stock worth $29,612,000 after purchasing an additional 770,745 shares in the last quarter. FMR LLC lifted its holdings in shares of Neurogene by 912.4% in the 3rd 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 period. JPMorgan Chase & Co. grew its position in shares of Neurogene by 10,395.3% during the 4th quarter. JPMorgan Chase & Co. now owns 481,001 shares of the company’s stock worth $10,996,000 after buying an additional 476,418 shares in the last quarter. Samsara BioCapital LLC increased its stake in shares of Neurogene by 35.4% during the fourth quarter. Samsara BioCapital LLC now owns 1,717,127 shares of the company’s stock valued at $39,254,000 after buying an additional 449,337 shares during the period. Finally, Deerfield Management Company L.P. Series C bought a new stake in shares of Neurogene in the fourth quarter valued at about $10,245,000. 52.37% of the stock is owned by hedge funds and other 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.