Neurogene (NASDAQ:NGNE) Coverage Initiated by Analysts at Canaccord Genuity Group

Canaccord Genuity Group began coverage on shares of Neurogene (NASDAQ:NGNE) in a research note published on Friday morning, Marketbeat reports. The firm issued a buy rating on the stock.

Several other research firms also recently commented on NGNE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Neurogene in a report on Thursday, January 22nd. HC Wainwright reiterated a “buy” rating and issued a $70.00 price target on shares of Neurogene in a research report on Tuesday, January 13th. Wall Street Zen lowered Neurogene from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Finally, Lifesci Capital initiated coverage on Neurogene in a research note on Monday, January 26th. They issued an “outperform” rating and a $50.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Neurogene has a consensus rating of “Moderate Buy” and an average target price of $44.00.

Neurogene Stock Performance

Shares of Neurogene stock traded up $3.81 during trading hours on Friday, reaching $23.49. The company’s stock had a trading volume of 1,255,977 shares, compared to its average volume of 113,240. The company has a market capitalization of $363.86 million, a P/E ratio of -5.72 and a beta of 1.59. The stock’s fifty day simple moving average is $18.65 and its two-hundred day simple moving average is $21.42. Neurogene has a one year low of $6.88 and a one year high of $37.27.

Institutional Investors Weigh In On Neurogene

A number of large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Neurogene by 17.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,983 shares of the company’s stock worth $82,000 after purchasing an additional 1,059 shares during the last quarter. Jennison Associates LLC boosted its position 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 buying an additional 59,479 shares during the period. PNC Financial Services Group Inc. boosted its position in Neurogene by 43.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,055 shares of the company’s stock valued at $61,000 after buying an additional 1,232 shares during the period. Schroder Investment Management Group bought a new stake in Neurogene in the 2nd quarter worth $451,000. Finally, Bank of America Corp DE increased its position in shares of Neurogene by 81.6% in the second quarter. Bank of America Corp DE now owns 95,401 shares of the company’s stock valued at $1,426,000 after acquiring an additional 42,880 shares during the period. 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 specializing in the development of gene therapies for rare neurological diseases. The company’s lead platform employs adeno‐associated virus (AAV) vectors designed to deliver functional copies of disease-causing genes directly to the central nervous system. Neurogene’s pipeline focuses on inherited lysosomal storage disorders, including investigational programs for GM1 and GM2 gangliosidoses, with additional preclinical efforts targeting other monogenic neurodegenerative conditions.

Neurogene’s proprietary AAV9‐based delivery system has been engineered to cross the blood-brain barrier, aiming to provide durable gene expression in affected tissues.